Bluefin network BPS funds broker deals

Bluefin's broker network Broker Partnership Services (BPS) has added twelve new partners in the first half of this year, including a firm in the Isle of Man.

BPS said revenue has increased 20% compared to 2009.

The company said it has also helped two brokers grow with funding assistance for the acquisition of two other brokerages placing £3.7m in annual premiums.

Exeter-based Fidelius Insurance Services Ltd acquired £2.4m GWP Ottery Insurance Services of Ottery St Mary with funding from the BPS.

St Helens-based Inspire Risk Management was able to acquire the book of business of Wood & Craven in Lytham St Anne’s, which places around £1.3m in annual premiums.

BPS sales and marketing director Robin Thomson said: "We are delighted to be able to assist our partner brokers in the pursuit of their goals and ambitions.

"The growth and development of our partner brokers is obviously a key element of our philosophy and the financial stability and debt-free profile of Bluefin puts us in a good position to assist our partner brokers with funding for the right opportunities.

“Our future strategy is to continue our steady growth whilst ensuring we continue to work in partnership with the right people. We have fantastic partner brokers with a great will to develop their businesses which we want to continue and expand.”