Broker Network has completed the acquisition of East Anglia-based Saffron Insurance for an undisclosed sum.

Saffron Insurance, which was established more than 60 years ago, has grown considerably, particularly in the last twenty years.

The company employs more than 120 people who work across 12 of its offices. The business, which controls more than £30m GWP, is focused on commercial lines business.

Broker Network chief commercial officer Des O’Connor said: “We have a strong infrastructure of people, processes and systems established over 25 years ago which sets us apart from competitors.

“The investment in our fourth Centre is exciting and I firmly believe the combination of Broker Network working alongside Dave and the Saffron team will dominate the broking landscape of East Anglia.”

“Saffron is a very acquisitive business and will take a similar route to our first Broker Network Partner, Finch Group. We are however being thoughtful and considered in our approach and are making decisions for the long term.”

Saffron Insurance managing director Dave Beswick stated that the company now needs to move to the next stage so that it can capitalize on opportunities and meet evolving customer needs. Broker Network can be a good partner to Saffron.

Last month, Broker Network acquired Thompson & Richardson for an undisclosed amount. The Lincolnshire-based company operates from four offices in Sleaford, Boston, Grantham and Lincoln with a workforce of 75.

Image: Broker Network acquires Saffron Insurance for an undisclosed amount. Photo: Courtesy of The Broker Network Limited.