Kent broker boosts business with three acquisitions

Woodstock Insurance Brokers has released details of three acquisitions.

On 1st July 2009, the Maidstone-based broker said it completed its 22nd acquisition of the personal lines portfolio of a large commercial insurance broker based in Essex.

On 1st August 2009, it is set to complete its 23rd acquisition of the entire general insurance portfolio of Ralph Alister, an independent broker with five offices in Kent and London.

Finally, on 1st October 2009, Woodstock will acquire the entire general insurance portfolio of Keith Bailey Insurance Consultants, an independent insurance broker based in Middlesex, its 24th acquisition to date.

The company said that the three acquisitions will add more than 3000 customers generating in excess of £1.6m gross premium income to Woodstock’s portfolio.

Tony Simper, managing director of Woodstock, said: “I am delighted that we are growing at a time when many other brokers are going backwards. Our recent acquisitions have warranted the creation of two new roles, bucking the trend of the credit crunch on our industry, and we expect to do more deals before the end of the year.

He continued: “Commercial represents less than 10% of the combined £1.6m book which is ideal. Personal lines has always been our main target and we are keen to talk to any potential vendors as we do have proven experience in successfully integrating books of business."

Ian Bosley, owner of Ralph Alister, said: “We selected Woodstock because of their expertise in solving insurance problems and their commitment to providing quality advice.”

Alan Noel-Storr, owner of Keith Bailey Insurance Consultants, added: “We are confident that Woodstock will ensure that our customers receive the best possible service.”