Broking group makes acquisition after securing further backing

Deva Group has acquired Tudor House Insurance Services after securing increased backing.

Tudor House is a Wrexham-based broker that specialises in home and motor insurance.

It also offers fleet, landlords and buy to let propositions to commercial customers.

The team, premises and brand will all remain as part of the deal.

Tudor House is the first firm Deva has acquired since The Broker Investment Group (TBIG) increased its shareholding in the business to 75% in September 2024.

Andy Roden, retail chief executive at TBIG, said “It’s great to see our model in action. We back people and businesses to grow and deliver their plans.

“We are delighted to be able to support Deva on their journey.”

Darren Williams, owner and managing director at Tudor Insurance, added: “We know we have passed the ownership of the business to a safe pair of hands.

“The attractiveness of joining Deva was their location to our business, the people involved and the continuity of brand, premises and people.”

Further deals

This purchase adds to the four acquisitions Deva has completed over the last few years.

The broking group also said it was in advanced talks for several acquisitions. It is looking to make a hattrick of deals by the end of Q1 2025.

Peter Goddard, managing director at Deva, said his firm had “great growth plans”.

He added: “Part of this will be driven from organic growth, but we also have a clear plan to make several strategic acquisitions, driving the business towards this target. “