Group moves towards £30m GWP target
LFC Insurance Group, the South-East based commercial brokers, has acquired the shareholding of R. S. Hayworth & Co Ltd, trading as Shield Policies.
Shield, an underwriting agency, has a track record going back to 1923 and operates from Feering, near Colchester, in Essex.
It has provided their 200 agents around the UK with a range of SME targeted commercial policies, as well as writing direct for certain niche trades. They will now trade as LFC Shield.
Jerry Clayton, group managing director, said: “After our many broker acquisitions over the last few years, this was a great opportunity to build a more integrated model with genuine underwriting capabilities.
"The Shield team are very professional and have built their reputation on quality of service above all else. That fits perfectly with what we have always done at LFC and I am very excited about the potential prospects.
"As far as LFC Shield clients are concerned, we will, with the willing support from our insurer partners, be able to offer them significant cover improvements, while still being highly competitive on premiums and with no compromise on service.
"This acquisition will move our gross written premium towards our 2008 target of £30million and means that we will be operating from 3 sites in Essex, in addition to our Sussex operation.
"We will not be resting on our laurels but will be actively engaging with the agents, most of whom are independent brokers, to see what requirements they have and how we can meet those needs in the future.”
