Acquisition target WRS specialises in the social welfare sector
Ecclesiastical Insurance-owned specialist broker SEIB has bought Essex-based ‘ethical’ intermediary WRS Insurance Brokers, it announced today.
All WRS staff will be retained at the company’s Colchester office, including managing director Chris Chapman, who will continue to lead the business, SEIB said.
WRS specialises in the social welfare sector, and provides business and property insurance for charities, churches, as well as community groups.
SEIB was founded in 1963 by a then 17-year old Barry Fehler, who is still the group’s chief executive.
Owned by Ecclesiastical’s parent company, the Allchurches Trust, SEIB’s profits are used for good causes. Although nominally a general broker, it specialises in the not-for-profit sector, particularly equine, funeral, private hire and charity cover.
It claims to provide cover for “the bulk” of equestrian organisations, charities and groups in the market.
Commenting on the acquisition, Fehler said WRS had been known to him for some time, and was seen as a “great fit” for SEIB.
Chapman said joining SEIB was a positive move for the clients and employees of WRS Insurance Brokers ”as both organisations hold similar ethical and traditional values”.
”This will assist WRS in its further growth and business developments in the years ahead whilst continuing to offer high level of service from the Colchester office.”
SEIB prides itself on only placing business with onshore, A-rated insurers, it said.