Brown & Brown (Europe) has accomplished the acquisition of 100% of the shares in UK-based insurance coverage dealer Berkeley Insurance coverage for an undisclosed sum.
This marks the primary broking deal executed by the corporate within the UK, subsequent to its rebranding from World Threat Companions in September this 12 months.
Berkeley has places of work in Edinburgh, Birmingham and London, with headquarters in Leicester to serve mid-market shoppers within the area.
Though Berkeley supplies generalist experience, it has a devoted crew for industrial property and development, monetary dangers, cyber, personal shopper and company shopper insurance coverage strains.
Berkeley will now be a part of the UK retail unit of Brown & Brown.
Present Berkeley chairman and CEO Tim Maxted, finance director Jonathan Yeeles, and the administration crew and workers of the corporate can even be a part of the retail unit.
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The Berkeley model might be retained following the acquisition, with the enterprise working from its current places of work, the corporate famous.
Maxted mentioned: “We’re excited concerning the subsequent chapter for Berkeley, for our clients and our crew, and making the most of the alternatives from our future partnership with Brown & Brown.”
Brown & Brown additionally plans to include extra options and product strains sooner or later. It can execute a commerce credit score by means of Xenia, which is slated to grow to be a part of the corporate in This autumn.
Additional options in healthcare might be included by means of Premier Selection Healthcare, a specialist healthcare enterprise of Brown & Brown.
Brown & Brown Europe CEO Mike Bruce mentioned: “Berkeley is a superb advice-led dealer which, beneath Tim’s management, is characterised by sturdy natural progress, a transparent technique and a extremely entrepreneurial, revered administration crew.”
“It brings a lot of sector, product and proposition capabilities to our retail division within the mid-market buyer section.
“We might be trying to leverage the Berkeley crew’s intensive expertise and areas of specialism throughout our UK operations.”
In September 2023, the corporate signed a deal to amass UK-based Occam Underwriting.
