The broker has acquired Annandale Insurance Brokers

Pensions Insight

Seventeen Group has bought Scottish broker Annandale Insurance Brokers for an undisclosed sum.

Dumfries-based Annandale, which controls around £3m in gross written premium, is two thirds commercial and one third personal lines.

Executive directors, Denis Erne, Tom Aitchison and Andy Hall, plus all staff will remain with the business and will continue to operate out of their existing Dumfries premises.

Seventeen includes a number of subsidiaries: James Hallam insurance brokers, Touchstone Underwriting and 4Sight Risk Management.

Following the acquisition, Annandale will be integrated within James Hallam but will retain its existing name to reflect the value of this brand within the local market.

Seventeen Group chief executive Paul Anscombe said the acquisition would strengthen James Hallam’s Scottish presence. The broker already has an office in Glasgow.

Anscombe added: “This is a long standing and highly regarded regional broker and we are delighted to welcome the team into Seventeen Group. We are grateful for the support of Clydesdale Bank in helping us complete this transaction and hope to make further acquisitions over the coming period”.