Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 24th of May 2018
January 11, 2008

Broker consolidation continues: Bridge acquires Chartwell

by Gill Montia

Story link: Broker consolidation continues: Bridge acquires Chartwell

Bridge Insurance Brokers, the Manchester-based corporate insurance specialist, has acquired Chartwell, an independent brokerage based in Warrington.

Following completion of the transaction, key personnel from Chartwell’s Warrington offices will relocate to Bridge’s central Manchester site.

Bridge is one of the leading independent brokers in the North-West, having become the UK representative for Brokers Link, the international broker network, in October of last year.

The firm specialises in the corporate market, providing risk management, environmental, credit and property insurance, and due diligence.

Bridge has ambitious expansion plans and is seeking further acquisitions; according to director Peter Warburton: “The insurance sector is consolidating, and we expect to play a part in this. There is a size you need to be to get the best deals for your clients and to be able to fund all the compliance.”

The acquisition of Chartwell will increase Bridge’s turnover to over £6 million and bring employee numbers close to 100.

The second-half of 2007 saw a number of mergers in the commercial insurance sector in the North-West.

Cheshire-based Bollington acquired smaller rival Greystone Insurance, and Cobra bought Altrincham-based UK & Ireland Insurance Services, for over £4 million.

 

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