Venture Preference to be renamed Bluefin in January and to relaunch acquisitions drive.
AXA broking division Venture Preference is to restart its acquisitions drive following the unveiling of its new brand, Bluefin.
The company, which currently includes brokers Smart & Cook, Stuart Alexander, Layton Blackham, Davis Group and SBJ UK, will be rebranded as Bluefin from January 2009.
The brand will also integrate the Thinc Group companies, acquired by AXA in 2006, PIFC and SBJ Benefit Consultants, to create a financial services provider offering insurance broking, financial advice and consultancy.
Stuart Reid, chief executive of Venture Preference, will become chief executive of Bluefin Insurance Group. Reid said the company was poised to begin acquiring brokers again.
“We still want to get to £1bn,” he said. “We will be completing a couple of small acquisitions in the next few weeks and we will carry on from there.
“I still think we are one of the best homes for brokers that want to sell and we can provide what we said we were going to do. We now also want to become one of the preferred homes for employment.”
Venture Preference’s acquisitions drive had ground to a halt in recent months as Reid concentrated on integrating the businesses.
John Simmonds, currently chief executive of AXA-owned Advisory Services, will become chief executive of Bluefin Advisory Services when the rebrand is launched next January.
In a statement, Venture Preference said the new company would retain its local presence.
“The business also benefits from the backing of AXA, one of the largest financial services companies in the world,” it added.
Reid also said the rebranded company might be transferred to one IT platform. “We could move most of the company to one system if it is possible,” he said.
Meanwhile, Chris Tully, former group personal lines manager at Layton Blackham, has resurfaced at Jelf Group. Tully has been appointed to the new position of director of personal lines within Jelf Insurance Brokers.
He left Venture Preference earlier this year following an executive reshuffle in which Tim Mortimer, former head of personal lines at Smart & Cook, was made director responsible for private clients across the AXA broking business.
