’We are proud to provide a viable alternative to the industry consolidators when brokers are looking to sell their business,’ says chief executive
Broking group Prosura has acquired Donald Schofield in what is its second deal since launching earlier in 2023.
Pontefract-based Donald Schofield is a commercial insurance broker that provides policies for property owners, shops and the leisure industry.
The deal will see the Donald Schofield brand retained and all clients and assets of the company will be integrated into Prosura Group.
Prosura estimates that the deal will help it hit £6m in gross written premium (GWP) by December 2024.
The group’s chief executive Jon Newall said: “We are proud to welcome Donald Schofield into Prosura and for all colleagues and clients to join the family.
“Now we can all look forward to maintaining high levels of customer service, covering risks across our brands and delivering peace of mind to our clients.”
Paul Schofield, director at Donald Schofield, added: “Like Newall and his team, we value and celebrate our status as an independent broker.
“We believe that this delivers the best for colleagues and clients and are pleased that this will continue.”
Further deals
The deal marks Prosura’s second acquisition within 12 months, with it having acquired Sheffield-based First Stop in October 2023.
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The firm is now keen to make a third acquisition as it looks to expand further.
Newall said: “As a business, we are huge advocates of independent brokers and believe that they play a vital role in our industry.
“At Prosura, we are proud to provide a viable alternative to the industry consolidators when brokers are looking to sell their business.
“We are already looking out for our third acquisition and are keen to talk to any independent broker that is considering exiting the industry knowing that their clients and colleagues will be looked after.”
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
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