Last month new funding was granted to Saffron-parent Bravo Group to buy more brokers
Saffron Insurance has bought Bridge Insurance Services - a Broker Network member - for an undisclosed sum.
It is Saffron’s fourth acquisition since becoming part of Ethos Broking - formerly known as the Broker Network Partner division. The group took a majority stake in Saffron last year and the broker has since bought Continuum, Grove Insurance and Farmer Insurance.
Keith McGregor, Saffron Insurance acquisitions’ director said the firm has further acquisitions in the pipeline which will help strengthen its presence in East Anglia.
It follows Broker Network Partners rebranding earlier this year as Ethos to separately define the business from the network. Bravo Group owns Ethos Broking, Broker Network and the Compass network. An £80m loan facility with Deutsche Bank was agreed last month.
McGregor added: “This was too good an opportunity to miss. Cliff has grown a fantastic business with a strong client base and great local connections, but most of all there is a strong cultural fit with Saffron which is always one of the first things we look for when acquiring any business.
Bridge Insurance Services is an independent regional broker established over 40 years ago by Cliff Humphreys in Wisbech Cambridgeshire. Humphrey’s and his team will remain working from their current office premises.
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