It’s a busy month for deals across the insurance sector and we aren’t even halfway through it yet. Here’s the latest;
Gallagher today announced that it has agreed to acquire The Bollington Wilson Group (“Bollington”). The acquisition is subject to regulatory approval.
Bollington was founded in 1973 as a local community broker and has since grown organically and through acquisitions to become a sizeable broker specialising in mid-market commercial, niche lines, and SME & micro-SME businesses as well as personal lines. The business is based in the North West of England, operates seven offices and employs 420 risk professionals and has over 230,000 customers.
Post-completion of the sale, Bollington will become part of Gallagher’s UK Retail Division, which looks after the risk management and insurance needs of over one million customers through a regional network of offices based across the UK.
Commenting on the agreement to acquire Bollington, Michael Rea, CEO of Gallagher’s UK Retail Division, said: “Bollington is a hugely-respected business and culturally is an excellent fit with Gallagher. This thriving business has strong capability and an impressive portfolio of specialisms that are complementary to our existing business lines, and provides us with additional scale in the regional commercial broking sector.
“Its base in the North West of England will supercharge our presence in the region, and add further depth to our existing UK wide coverage through our Gallagher UK branch network. We have been particularly impressed with the team’s entrepreneurial mindset and focus on client service, both of which are fundamental to our way of doing business here at Gallagher. I look forward to working with Paul and the wider team as we join the businesses together.”
Paul Moors, Group CEO of Bollington, added: “It was clear from the start that we had found a fantastic partner in Gallagher. Michael and his team spoke the same language as us and Gallagher’s focus on employing and developing its employees to provide great client service fits well with our ethos. Having led Bollington for over 20 years, I am delighted that our business will become part of such a market-leading global broker, and this partnership will enable us to continue our track record for growth, and provide a springboard for further success.”