’This acquisition enhances our ability to combine the strengths of our regional offices,’ says chief executive
Broker Lycetts has expanded its presence in the north east with the acquisition of Cheviot Insurance Services.
Cheviot is based in Newcastle and is known for its “strong local community ties”, Lycetts said.
It has been acquired as Lycetts looks to expand its commercial expertise in the north east.
John Baty, Helen Hornshaw and Joel Marks will all join the broker from Cheviot.
Ian Barclay, chief executive at Lycetts, said: “We will be leveraging Baty’s extensive expertise with complex property and cyber risks, while Marks brings a wealth of family office and fund management expertise, including a £17bn Scottish Widows fund.
“As we integrate Cheviot’s expertise into our wider offering, this acquisition enhances our ability to combine the strengths of our regional offices.”
Ambassadorial role
Meanwhile, Charlie Hoult, founder and director at Cheviot, will move to Lycetts in an ambassadorial role.
Read: Gallagher agrees to acquire AssuredPartners for $12bn
Read: Ardonagh backer to be acquired in $12bn deal
Explore more M&A-related content here or discover other news stories here
He said: “Cheviot has always prided itself on building lasting relationships with clients and we admire Lycetts’ commitment to the same values.
“Joining forces ensures our clients continue to receive the same high-quality service, now supported by the broader resources of Lycetts.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
No comments yet