Andinsure is a niche player in motor trade insurance
Swinton has announced the acquisition of commercial insurance broker Andinsure Limited. The deal will strengthen Swinton’s business offering and will complement the work of its existing commercial arm, Swinton Business.
Andinsure, with a premium income of £8m and 50 staff, has offices in Preston, Cumbria, Birmingham and Accrington. It offers a wide range of commercial and personal insurances and is a niche player in motor trade insurance.
The purchase of Andinsure demonstrates Swinton’s continued commitment to grow its business through successful acquisitions, as well as organically.
Swinton chief executive Patrick Smith said: “The growth of Swinton Business since its inception in 2004 has been dramatic, and the acquisition of Andinsure is another step on the road to securing our short term aim of exceeding £150m GPI.”
“Our commitment to acquiring personal and commercial brokers remains undiminished as we look to grow our on-line and high street presence.”
Earlier this year Swinton purchased two other major commercial insurance brokers, Yorkshire based Rockford and Vectis Insurance Services on the Isle of Wight. Overall, the company has made over 250 broker acquisitions in the past five years including the retail arm of Budget and on-line motor intermediary its4me.
Andinsure managing director Craig Fisher said: “This is an exciting time and over the coming months there will be a sharing of skills and expertise. This can only mean a better service for Andinsure clients and will strengthen Swinton Business’s aim to become a major player in the commercial sector.”
Graham Boyes, chairman of Pierce, the Blackburn-based accountancy and business advisory group, advised Craig Fisher throughout the deal and has worked with AndInsure for a decade.
He said: “We are delighted that Craig Fisher has had such a success with Andinsure, as I know both Craig and all the staff have worked extremely hard to build the business up to where it is today.
“It is always good to see a business we have advised for such a long time grow and have its future secured in a deal like this.”
