MCM Insurance was an original founding member of Broker Network and controls £22m GWP
Broker Network has completed the acquisition of Manchester-based MCM Insurance.
MCM is the network’s seventh regional partner, intended as a hub for acquiring smaller local network members when they are looking to sell up.
Established in Manchester in 1977, MCM Insurance, headed by managing director Allan Broomhead, controls in excess of £22m GWP and employs over 50 people.
It operates from three locations; Manchester, Derry and Birmingham. The deal will see the business continue to operate from their current offices with a retained management team.
Broker Network’s chief commercial officer Des O’Connor revealed details of the acquisition when he spoke to Insurance Times in June. Then, he said he expected the deal to be completed by July, but the deal has taken slightly longer than anticipated to go through.
Commenting today on the partnership, O’Connor said: “MCM is a fantastic business and I’m delighted to welcome Allan and the team to the family.
“The purchase of MCM, an original and founding Broker Network member, marks our first regional powerhouse in the north of England.
“Our aim is to establish a centre across every county in the UK and we’re forging ahead with that plan.
“We’re delighted with the performance of our existing partners and I’m sure that MCM will prove just as successful.”
Broomhead, Managing Director at MCM added: “We’re excited to begin the next chapter in MCM’s journey and fulfil our growth objectives.
“We were one of the very first members and have a long and successful history with Broker Network.
“We know the team well and felt they were the ideal fit for our business.
“Our aim has always been to partner with someone who understands our ethos for excellent customer service within the local communities we trade in.”
MCM will continue to trade under its own brand.
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