Giles seals first acquisition of 2009

Giles Insurance Brokers has announced the acquisition of LRG Insurance Services.

This is Giles’ first acquisition of the year and follows 21 acquisitions in 2008. Ashley Cooper, currently managing director of LRG, will take on the position of regional director within Giles.

As a regional broker with offices in Rickmansworth near Watford, LRG Insurance will strengthen Giles’ presence in the region. In addition to the acquisition of Dickson Insurance Brokers in October 2008, LRG will provide local expertise and market share across locations of strategic importance to the growth plans of the business.

LRG Insurance was established in Rickmansworth, Hertfordshire, in 1964 and built its reputation on the high level of personal service it provides to the commercial market. The business has grown to a team of 15, with a young and dynamic management team and a good track record of delivering growth.

Chris Giles, chief executive of Giles said: “The acquisition of LRG Insurance is a further significant step in developing our position around London as we seek to grow our presence in the region and it is great to welcome Ashley Cooper and Richard Grainger on board.

"We see great opportunities in acquiring small brokers, driven by young, ambitious management teams, and LRG Insurance with its attractive commercial business is fully aligned with this strategy. We look forward to further strengthening and growing the Giles Group during 2009.”

Ashley Cooper, managing director of LRG Insurance, said: “At LRG we have an excellent management team who are well positioned to take the business forward within Giles. We look forward to working with Giles to continue to develop our commercial business lines both on a regional and national level.”