Smart and Cook has acquired the business of independent Lincolnshire broker B&D Insurance. The move will boost Smart and Cook's premium turnover to £110m for the current financial year, said the company.
The sale consists solely of B&D Insurance's book of business, which will now be transferred to Smart and Cook's Lincoln office. B&D Insurance placed approximately £500,000 worth of premiums per year.
Former owner Deirdre Bannister said she decided to sell the business before the introduction of FSA regulation. She will join Smart and Cook as a consultant for 12 months to ensure a smooth transition of business.
Smart and Cook said this was the third acquisition it had made this year, following the earlier acquisitions of Adams Financial Services, based near Lincoln, and Hopwood Insurance Service in Middlesborough.
