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Thursday, February 29, 2024

Brown & Brown Europe expands with new acquisition in UK 

Brown & Brown Europe, a division of worldwide insurance coverage brokerage Brown & Brown, has expanded its UK operations with the acquisition of Stewart & Companions.  

The deal, the phrases of which had been undisclosed, noticed Brown & Brown Europe purchase 100% share capital of Oxlea Investments, buying and selling as Stewart & Companions. 

It’s anticipated to reinforce the corporate’s service choices in business and private strains insurance coverage. 

Kent-based Stewart & Companions, established within the Sixties, will turn out to be a part of the Inexperienced Insurance coverage Group (Greens), Brown & Brown’s retail dealer.  

The acquisition consists of the switch of all workforce members together with senior management to Greens. 

Shaun Hetherington runs the acquired firm alongside fellow director Neale Huelin. 

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Stewart & Companions will proceed to function from its current workplace in Welling, Kent.  

Brown & Brown has confirmed that each one obligatory regulatory approvals for the transaction have been acquired. 

Greens chief government Duncan Coleman mentioned: “Stewart & Companions is the epitome of a well-run, customer-centric group dealer. I’ve been impressed by the workforce’s dedication to customer support throughout their portfolio, and I’m assured they’ll make a wonderful contribution to Brown & Brown sooner or later. 

“I’m eager to assist director Shaun Hetherington and his workforce develop their buyer base in Kent and past, together with in south-east London, and naturally, they’ll profit from the additional sources and firepower we are able to present.” 

Hetherington mentioned: “I’ve been a part of Stewart & Companions since 1994, buying and selling as an impartial dealer and build up a loyal buyer base. The chance to turn out to be a part of Greens and the broader Brown & Brown workforce was too good to overlook, and we’re all very excited in regards to the future. 

“There isn’t a doubt that our clients will profit from the extra capabilities, services and products we can present as a part of Brown & Brown, and Duncan and his colleagues are vastly supportive of our thrilling future progress plans.” 

In December 2023, Brown & Brown Europe acquired R McGee Insurance coverage Brokers, a household run dealer established in 1974 and primarily based in Maesteg, Glamorgan.  

Like Stewart & Companions, R McGee specialises in private and business strains insurance coverage.  

This acquisition got here shortly after Brown & Brown Seller Companies acquired ABS, which incorporates ABS Danger and ABS Operations.  

US-based ABS is a guarantee product administrator with greater than twenty years of expertise within the vehicle aftermarket. 

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