It is Saffron’s third acquisition since becoming a Broker Network partner
Saffron Insurance, has today acquired Broker Network member, Farmer Insurance Brokers.
East-Anglia based Saffron is part of the Broker Network Partners division, having been acquired in January 2018 by the network. The division was established so that larger regional hub brokers could be bought and granted funds to give network members looking to sell up a sale option from within the network.
Saffron had already made two acquisitions since becoming a partner - Continuum Insurance and Grove Insurance.
Farmer, based in Romford, was established in 1999 by Derek Farmer and is predominately a commercial lines broker focused on fleet, property owners and liability. The brokerage manages £2m GWP and employs 10 members of staff.
Farmer will retain its current office premises and all members of staff will stay with the business.
Commenting on the acquisition, David Beswick Saffron’s managing director, said: “I’m thrilled to welcome Derek and his team to Saffron. The team have fantastic broking knowledge and a strong customer base which will enhance our overall offering.
”To have acquired three businesses within a 12 month period is a great achievement for Saffron and I look forward to moving into 2019 with a strong pipeline of further opportunities.”
Saffron Insurance employs 145 members of staff and has 11 offices.
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