Swinton has strengthened its position in the motorcycle market with the acquisition of specialist motorcycle
broker Dyer and Holmes.
The acquisition of the Maidstone-based broker, one of 1 ...
Swinton has strengthened its position in the motorcycle market with the acquisition of specialist motorcycle
broker Dyer and Holmes.
The acquisition of the Maidstone-based broker, one of 13 purchases made by Swinton in the last two months of 2003, will enable it to establish a specialist unit to develop its motorcycle account.
The acquisitions, which will add £13m to Swinton's premium income of £380m in 2003, also include Bath-based Fairfield Insurance Services. Swinton director Peter Halpin said the business, which will continue to operate as Fairfield, provided a new presence for the company in Bath.
The acquisitions will result in the establishment of four new branches of the high street broker. Swinton branches will be added in Bourne through the acquisitions of Andrew Hawley & Co and Hereward Insurance Services, in Carcroft through the acquisition of Carcroft Insurance Services, in Castleford through the acquisition of Annette Lockyer Insurance Services and in Dunfermline through the acquisition of Dunfermline Insurance Consultants.
These acquisitions bring the total made by Swinton in 2003 to 37.
Halpin said that terms had been agreed on a further 11 acquisitions for completion in January and February, and said the company is "within days" of finalising the sale of Walmsley Insurance Brokers (commercial) to its existing management. Swinton originally bought Walmsley with the intention of using it to build a commercial portfolio, but has since changed its strategy.
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