The Folgate Partnership has completed its acquisition of the Hill House Hammond (HHH) commercial business portfolio.
The deal involves the transfer of 14 regional offices, a call centre located in Bournemouth,251 staff and gross written premiums (GWP) of £57m. It has boosted Folgate's total GWP to £480m.
In a statement Folgate said it would keep most of the existing HHH Business offices,while others will be integrated into existing Folgate broker locations.
The HHH Business brand will be retained, and Paul Williams, divisional director of HHH Business will continue to run the business.
Folgate executive chairman Peter Cullum said: “We are delighted that we have been able to acquire HHHB's quality book of commercial business.
Since the launch of the Folgate Partnership, we have had a close and mutually beneficial working relationship with the Norwich Union, and we are pleased that we have been able to work together so effectively on this deal."
Cullum said Folgate was in "advanced stages" of negotiation with a "significant number" of other regional brokers.
Folgate chief executive Andy Homer added: “Our due diligence exercise has confirmed the excellent quality of the staff who service the commercial book, and we intend to keep these staff who deliver an exceptional service to their commercial clients.”
