Broking group snaps up Lloyd's broker.
Independent broking group RK Harrison has acquired Lloyd’s broker Bowood.
RK Harrison, based in Bedford and has a presence in Bermuda, will acquire Bowood Holdings Limited and its principle trading arm, Bowood Partners Limited.
RK Harrison and Bowood have an annual revenue of £45m and £11m respectively.
Paul Bridgwater, chief executive of RK Harrison, said: “Bowood Partners is a successful independent broker with a reputation for excellence in their chosen fields. We are excited by the opportunity to bring our two businesses together and to take another important step forward in our ambition to build the leading independent, privately owned broking group.
David Reed, chief executive of Bowood Partners Limited, added: "We have built Bowood into a respected and profitable specialist insurance broker. I am delighted that we now look forward to further developing our business within an independent, like minded organisation whose focus is also on excellence and client service and contributing to their success."
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