Folgate has confirmed its acquisition of Hill House Hammond's book of commercial business, as exclusively revealed by Insurance Times.
The deal went through for a reported £15m.
Folgate said the deal comprised of a mixed commercial portfolio totalling approximately £65m gross written premium, controlled from a network of branches, including a call centre operation in Bournemouth that handles the commercial vehicle and mini fleet business.
Folgate executive chairman Peter Cullum said: "Folgate are delighted to have reached agreement with NU to welcome the HHH Commercial team into the Folgate Partnership. Undoubtedly, the business mix is an ideal fit for our SME portfolio and strengthens our presence in the regional network".
Chief executive Andy Homer said: "The addition of a quality book of commercial business strategically located will take us one step closer to achieving our ambition to become the largest independently owned intermediary in the UK".
