Alan & Thomas Insurance Group has acquired Ferndown-based Commercial and General Insurance Services for an undisclosed amount.
It is the first agreement for Alan & Thomas since Global Risk Partners (GRP) took a majority stake in the business to make it the regional hub for the South.
Alan & Thomas said it is the first of several deals in the pipeline.
Commercial and General Insurance (CGI) was established 13 years ago and offers risk management advice and bespoke insurance solutions for a wide range of businesses across the south of England.
The company has also developed a particular niche within property owners insurance sector.
The ten member team of Commercial and General will stay with the business, which writes approximately £4m of gross written premium annually including for property owners business.
Alan & Thomas Insurance Group CEO Julian Boughton said: “We are delighted to welcome John, Derek and the CGI team to A&T. They have a great business and this is a coup for us.
“We are talking to a number of other businesses where we feel there is a joint value creation opportunity.”
CGI directors John Cran and Derek Bugler said: “The decision to join Alan & Thomas was an easy one to make. Their reputation for value creation made them our number one choice. They have a track record for delivery and investment in the businesses they have purchased and this was a real attraction for us.”
Alan & Thomas was established in 1975 and offers £30m in underwriting GWP every year and offers insurance services for businesses and high net-worth individuals.
Image: This is Alan & Thomas’ first acquisition after being acquired by GRP recently. Photo: Courtesy of adamr/FreeDigitalPhotos.net.