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Brown & Brown (Europe) has accomplished the acquisition of 100% of the shares in UK-based insurance coverage dealer Berkeley Insurance coverage for an undisclosed sum.
This marks the primary broking deal executed by the corporate within the UK, subsequent to its rebranding from World Danger Companions in September this 12 months.
Berkeley has workplaces in Edinburgh, Birmingham and London, with headquarters in Leicester to serve mid-market purchasers within the area.
Though Berkeley offers generalist experience, it has a devoted workforce for industrial property and building, monetary dangers, cyber, non-public shopper and company shopper insurance coverage traces.
Berkeley will now be part of the UK retail unit of Brown & Brown.
Present Berkeley chairman and CEO Tim Maxted, finance director Jonathan Yeeles, and the administration workforce and workers of the corporate may also be part of the retail unit.
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The Berkeley model might be retained following the acquisition, with the enterprise working from its present workplaces, the corporate famous.
Maxted stated: “We’re excited concerning the subsequent chapter for Berkeley, for our prospects and our workforce, and profiting from the alternatives from our future partnership with Brown & Brown.”
Brown & Brown additionally plans to include extra options and product traces sooner or later. It is going to execute a commerce credit score by Xenia, which is slated to develop into a part of the corporate in This fall.
Additional options in healthcare might be included by Premier Alternative Healthcare, a specialist healthcare enterprise of Brown & Brown.
Brown & Brown Europe CEO Mike Bruce stated: “Berkeley is a wonderful advice-led dealer which, beneath Tim’s management, is characterised by sturdy natural development, a transparent technique and a extremely entrepreneurial, revered administration workforce.”
“It brings quite a few sector, product and proposition capabilities to our retail division within the mid-market buyer section.
“We might be trying to leverage the Berkeley workforce’s in depth expertise and areas of specialism throughout our UK operations.”
In September 2023, the corporate signed a deal to amass UK-based Occam Underwriting.
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