The broker’s M&A strategy remains unaffected despite the Covid-19 pandemic
Ethos Broking UK has today (1 June 2021) made its third acquisition of 2021 to expand its footprint in East Anglia with a regional buy – Drayton Insurance Services.
The purchase was made via Ethos Broking’s Norwich-based regional broking hub, Hugh J Boswell.
Richard Tuplin, Ethos Broking UK’s chief executive, said: “I’m delighted to welcome such a strong brokerage into the Ethos Broking family.
”The team at Drayton Insurance Services are experts in their field and their knowledge in the personal lines and SME space will perfectly complement Hugh J Boswell’s strong commercial lines capability.
“It’s great to see Graeme Wooden, managing director at Hugh J Boswell, bringing his first acquisition over the line and it demonstrates that despite the tough circumstances we find ourselves in, with the right mindset and the right people around us, we can still very much push forward as a business for the benefit of our clients.”
Founded in 1997, Drayton Insurance Services is one of the larger brokers in East Anglia, with offices in Norwich, Poringland, Aylsham and Ipswich.
The broker handles £14m gross written premium and has a staff base of 40, all of whom will stay with the business following the completion of the deal.
Earlier this year, Ethos Broking acquired Hampshire-based Headley Group, as well as Piccadilly-based Chambers and Newman.
Despite the Covid-19 pandemic affecting many business plans, Ethos Broking’s M&A strategy remains unaffected, with a strong pipeline of acquisition activity planned throughout this year, it said.