Bridle set for 2011 acquisition spree
Bridle Insurance has acquired City of London Insurance broker Harrington Adams.
Bridle said the deal will kick start its 2011 acquisitions.
Harrington Adams specialises in insuring the cars and homes of City workers and SME businesses. Its founders, including Neil Adams, are leaving the business.
Head of Bridle personal lines, Darren Nangle, said: “Harrington Adams is a perfect fit for us and is the type of business we have been trying to secure for some time.
"As ever, finding the right business mix was key to the purchase and the hard work and enthusiasm the original owners had committed to the company for the past 14 years was clear from the initial meeting. They very much share our ethics and passion and this acquisition further demonstrates Bridles commitment to the personal lines arena".
He added: “Whist we don’t want to get ahead of ourselves, we have interesting purchase plans for 2011 to complement our separate and exciting organic growth."
Adams said: “Having set up HA in 1997, Steve and I have taken a huge amount of pride in our business, but after much thought we have decided the time is now right for both of us to do something different.
"Once the decision was made we had a number of attractive offers to consider and Bridle were our perfect fit."
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