NFU Mutual, the UK's largest rural insurer, has bought five new insurance brokerages.
The largest broker, Findlay Littler & Associates, is based in Sutton Coldfield, Birmingham and concentrates on commercial insurance business.
The others are: Spectrum Commercial Line, also in Sutton Coldfield; Lloyd Edwards in Stafford: Barnett Rawlinson & Bentley in Stoke-on-Trent; and Spencer Meakin & Newbroad in Bolton.
These latest transactions together control a premium income of more than £22m and bring the total number of outlets throughout the UK to 22.
Neil McKenzie, NFU Mutual assistant general manager, said: “Over the last 18 months we have made significant progress in our plans to provide insurance services by acquiring insurance brokerages. The acquisitions mean we now have a wider network of intermediaries offering our own insurance products and those of our partner insurers.”
He added: “These acquisitions will take us further forward in our plans to not only deliver our services to a broader market, but to offer alternative options as well, making us both an insurance provider and retailer.”
Matthew Findlay of Findlay Littler said: “The NFU Mutual brand will enhance the products and services we can offer.”
NFU Mutual has assets under management of more than £8bn.
