Chief executive Joe Henderson said expertise of new firm would bring broker more credibility with insurers

Henderson Insurance Brokers has bought Staffordshire-based risk management and training company Corporate Risk Systems (CRS).

Staff from Henderson Risk Management will join CRS’s team of 30 to create a 40-strong division. It will retain the CRS name and be run by CRS managing director Stephen Asbury.

Henderson chief executive Joe Henderson said the division would generate more than £1.5m in annual revenues through training and carrying out risk assessments for clients before a policy begins and at renewal.

He said the broker was attracted to CRS because of the company’s size and added that a broader geographical cover and industry specialism, particularly in health and safety and the construction arena, would raise Henderson’s credibility with insurers.

The CRS team has worked on more than a thousand cases across 60 countries.

Henderson told Insurance Times: “When you present this prospect to insurers, we show that we have the expertise. We are very committed to risk management; other people play at it somewhat but we now have a critical mass with the merger of the two companies.

“I believe this acquisition complements our position in the market place, enables us to provide and offer clients and prospects a much wider scope of proactive service and gives us a huge differential when it comes to marketing existing and new risks.”

The broker is also poised to make two broker acquisitions in the next two weeks, Henderson said.