The East Anglian broker clocks up its fourth acquisition for 2019
Personal and commercial lines broker Saffron Insurance has bought Cambridge-based broker Stuart and Co, a Broker Network member.
The purchase marks the firm’s fourth acquisition this year and its sixth since Ethos Broking took a majority stake in the business in 2018.
Saffron Insurance has also bought Continuum, Grove Insurance, Farmer Insurance, Bridge Insurance and Sharer Chapman.
Ethos Broking is a collection of brokers that share similar values but retain their own brand DNA. The group consists of nine regional centres and 13 satellites.
Building business
Stuart and Co, Saffron Insurance’s latest acquisition, was founded in 1995; the business manages £3m Gross Written Premium (GWP) in both commercial and personal lines.
The firm is owned and run by Bob Amos, who employs 12 staff. All employees will remain with Stuart and Co following the acquisition and the business will stay at its current premises.
Steven Seekings, managing director at Saffron Insurance, said: “Bob Amos has been known to us for many years and we’ve long admired Stuart and Co and its focus on the client.
“It’s a great cultural match for us and we look forward to working with their talented team and building on what Bob has created.
“2020 is looking set to be a promising year for us with a number of ongoing conversations and we’ve just started due diligence with another great team.”
No comments yet