2018 may only be weeks old, but it has already been a hotbed for insurance acquisitions – particularly among brokerages here in the UK. Whether it was GRP’s recent swoop for The County Group or Broker Network’s deal for Saffron Insurance, the swoops just keep on coming – and now you can add another to that list.
It has been revealed that Leicester-based insurance broker Erskine Murray has moved for Asciak Holdaway Merritt, a brokerage based in Essex. Erskine Murray too has been active with its acquisitions recently – it acquired Offley Insurance within the last six months.
“Combining our strengths as a growing broker with Asciak Holdaway Merritt’s specialist expertise and market insight will significantly enhance our capabilities within the London region and professional indemnity insurance sector,” Erskine Murray chief executive Tom Bartleet said, as quoted by The BusinessDesk.com.
“The acquisition marks a big growth opportunity for us within the professional indemnity insurance space. As we continue to grow in the right way, both organically and via targeted acquisitions activity, we continue to develop our service offering to ensure we are in the best position to serve our clients.”
In an interview with the publication, Alan Wheeler, the firm’s commercial director, described the acquisition as “key” and noted that Asciak shares Erskine’s passion and is a “perfect fit.”
Asciak Holdaway Merritt is a specialist within the professional indemnity insurance segment and is expected to retain its brand for the short-term.