Liverpool broker acquired by Bluefin Insurance
Bluefin Insurance has acquired Liverpool-based broker Exchange Insurance Services for an undisclosed sum.
The Liverpool commercial and personal insurance broker is the latest addition to Bluefin’s growing national presence. Law firm DTM Legal, which has offices in Liverpool and Chester, advised the shareholders of Exchange Insurance Services on the deal, which completed on 31 March 2016.
The company will continue to trade as normal, with Managing Director Peter Gradwell and all 19 members of staff at the office in Exchange Flags also being retained by the business under its new ownership.
Peter Gradwell, Managing Director of Exchange Insurance Services, which was originally formed in 1988, commented:
“I am delighted to have completed the deal to join Bluefin. We have over forty years of experience as an independent commercial broker in Merseyside and are excited to now join a sizeable broker with the right influence and understanding of the markets and clients we deal with. Throughout the sale process we have been thoroughly impressed by the efforts of everyone at Bluefin and the synergy of values is what attracted us to them.”
Ed Barnes, Head of Corporate & Commercial at DTM Legal, who advised on the sale of the business, said:
“We were delighted to be appointed by the owners of Exchange Insurance Services to support on the transaction and it has been a pleasure working with them. Bluefin Insurance is one of the most well respected brokers in the market with a growing presence in the region. The successful sale now marks a new chapter for the insurance firm and is one of several insurance service sector transactions our team has dealt with in recent weeks.”
Robert Organ, Chief Executive officer of Bluefin, commented:
“It is a pleasure for us to continue our expansion and presence in an important city like Liverpool. Our regional footprint is an important part of Bluefin’s DNA and we are committed to helping our new colleagues settle in quickly with minimal disruption to clients. We continue to look for strategically important brokers of all sizes to join us in providing specialist insurance cover to clients nationwide.”
Exchange Insurance Services specialise in providing solutions to its clients’ commercial insurance needs and currently arrange insurance on a local, national and international basis.