Oval snaps up £9m GWP South West broker

Oval has acquired Gloucester based insurance broker J L Fisher & Co, its first acquisition in more than a year.

The broker – which deals in a number of sectors including engineering, manufacturing, construction, charities, education and property investors - has an annual gross written premium of around £9m and employs 20 staff.

Oval said the acquisition strengthens its presence in the South West region. It recently sold Bristol-based broker Tett Hamilton back to its vendors.

John Fisher, formerly chairman of J L Fisher & Co said: “J L Fisher has always had a strong commitment to providing a traditional client facing service that puts our customers at the centre of everything we do. We felt that Oval is closely aligned to our values and as the economy remains fragile, we also felt that Oval would continue to provide security for our clients and an even wider range of services and expertise.”

The existing team will join Oval’s South West region under the leadership of Gary Fletcher who is regional managing director of the area.

“J L Fisher is an extremely professional and long established firm that has developed close relationships with its clients and a wide range of insurers,” said Fletcher. “We are delighted that the company has joined the Oval group.”

Oval’s managing director Jeff Herdman added: “This acquisition continues our ongoing mission to bring top quality businesses into the Oval group, although we will continue to proceed with caution as we move through the fragile economic and market recovery.”

For more, read this week’s issue of Insurance Times, out Thursday, or online this afternoon.