Invicta completes Fountain acquisition

Invicta Insurance Services is buying the houseold and property owners’ portfolios of Dorset broker Fountain Insurance & Investment Services.

The deal sees Invicta pick up the Fountain’s remaining policies. It acquired Fountain’s commercial and motor portfolios in May 2011.

This acquisition adds 1,500 customers to Invicta generating more than of £550,000 GWP.

Steve Gamage, managing director of Invicta Insurance Services, said “We are delighted to welcome these new customers to Invicta and look forward to satisfying all of their insurance requirements.

“We pride ourselves on our flexibility, so I was very pleased to be able to accommodate Maxwell’s request to bring forward this tranche of our acquisition.”

Maxwell Bird, owner of Fountain Insurance & Investment Services, said “I am confident that Invicta will ensure that our customers continue to receive the best possible service and I very much look forward to working with Steve and his team.”

Paul Cosh, chairman of Invicta Insurance Services, added: “We are keen to acquire further quality portfolios and we would love to hear from other brokers interested in selling some or all of their businesses.”