Consolidator plans to expand in Lincolnshire after double acquisition

Mark Hodges, Group CEO of Towergate Insurance.

Towergate Insurance is continuing its expansion into the broker market with the announcement today of the acquisition and merger of two firms in Lincolnshire.

Youngs Insurance Brokers in Grimsby and Murray Burns & Co in Cleethorpes will join forces to form Youngs Murray Burns. A combined workforce of 12 will now operate from the Grimsby office under the leadership of Murray Burns owner David King.  

Youngs Insurance Brokers owner Terry Pannell will also remain with the business, playing an integral role in its development.

Towergate has also appointed Derek Bradley as account excecutive to assist with developing client relationships in the north and north-east Lincolnshire area. The company stressed that Bradley is already known to many businesses in the region as former owner of broker PG Bradley in Brigg.

Murray Burns & Co, which was set up in 1981, is a prominent regional broker in the north-east of Lincolnshire focusing mainly on insurance solutions for local businesses and related personal lines insurance.

Youngs Insurance Brokers, which was established in 1963, provides business, motor and home insurance solutions to commercial and personal clients in the area.

Towergate chiefs said the acquisitions reflect the company’s investment in and commitment to north Lincolnshire, where it has plans to expand its broking footprint.  

Towergate Insurance Group chief executive Mark Hodges said: “We are delighted to welcome two well-established brokers, Youngs Insurance Brokers and Murray Burns, to the group. 

“Both businesses are great additions to our broking division, in a region where we recognise a real opportunity to secure a market leading position. I am delighted to see the momentum we saw in the first quarter of the year continue and I look forward to announcing further deal completions by the end of the month.”