High street insurance provider Hill House Hammond (HHH) has acquired Taunton-based insurance broking business Lloyd and Whyte. The move is part of HHH's acquisition programme and its plans to develop its commercial division, HHH Business.
High street insurance provider Hill House Hammond (HHH) has acquired Taunton-based insurance broking business Lloyd and Whyte.
The move is part of HHH's acquisition programme and its plans to develop its commercial division, HHH Business.
Lloyd and Whyte's annual premium income is approximately £7m, of which 90% is commercial business.
The company will continue to trade from its Billetfield location and all staff will transfer, under the management of former managing director Duncan Short, to HHH. The commercial operation will form HHH Business's fifth commercial centre.
HHH said Lloyd and Whyte was the first of several planned major acquisitions and added that it was actively seeking commercial insurance businesses.
HHH managing director Eric Galbraith said: "We plan to have twelve regional centres by the end of 2004. Lloyd and Whyte has a strong and well respected presence in the commercial market and we fully recognise the value of existing relationships and identity in this industry.
Consequently, as part of our new approach, Lloyd and Whyte will continue to trade under that name, as a member of the HHH Group."
HHH has focused traditionally on home and motor insurance. It has over 1.2 million policyholders and 240 branches.
The commercial division, HHH Business, specialises in products for small to medium size enterprises.
