UK-based Henshalls Insurance Brokers has acquired Stafford-based commercial insurance broker Bayliss & Cooke for an undisclosed price.
Henshalls said the acquisition gives it scope to extend its footprint into an entirely new area to offer its service and advice to an even bigger client base.
Bayliss & Cooke, which has been operating close to 40 years, is a member of the Willis Towers Watson Network – a partnership between certain independent insurance brokers and global brokerage firm Willis Towers Watson. Henshalls is also a part of the network.
The Stafford-based broker claims to provide customized insurance solutions as per its clients’ requirements. Its aim is to use a program of insurance covers along with relevant, practical risk management advice to offer a complete solution to its client base that spans a range of industries.
Bayliss & Cooke serves clients located across Staffordshire and the Midlands.
Bayliss & Cooke owner said: “I’ve known the Henshalls team for over ten years through our membership of the network, and our company cultures are very similar, so this deal is definitely the right move for us.
“They have been in business for over 50 years, and both our firms are well-established community insurance brokers with loyal and experienced teams. We’re very much looking forward to working with Henshalls and to helping to expand their reach into the wider Staffordshire and Midlands areas.”
Founded in in 1967, Henshalls has a head office in Newport along with an office in Shrewsbury to serve the wider Shropshire area and also across the UK. The insurance broker caters to commercial and personal insurance customers, and claims to have expert knowledge in a wide range of industry sectors.
Henshalls will retain the Bayliss & Cooke brand across Staffordshire and the existing 14 directors and employees of the latter will continue to operate from the Stafford office.
Henshalls managing director Mark Freeman said: “We’re very pleased to have signed the contract with Bayliss & Cooke, and to have agreed a deal that is of mutual benefit to both firms.
“By combining our resources, we are now one of the region’s largest independent insurance brokers which is great news for clients as we can provide even more services – including the specialist Coachline cover for buses, coaches and minibuses – and we will have even stronger relationships with insurers.”