CCV acquires Chorlton Cloughley Group

by Gill Montia

Story link: CCV acquires Chorlton Cloughley Group

Cullum Capital Ventures (CCV), which focuses on acquiring small to medium-sized regional brokers, has acquired Chorlton Cloughley Group (CCG), which is based in Stockport.

CCG was founded in 1997 through various amalgamations and has gross written premium of £9 million.

It offers services to industrial, commercial and personal clients throughout the UK and has a particularly strong reputation in the contractors’ sector.

The move will strengthen CCV’s presence in North West England, following the acquisition of Liverpool-based Ajax Insurance Brokers, in August of last year. It will also increase the group’s GWP to around £150 million.

Liam Maloney, managing director of CCG, says: “The CCV philosophy fits well with the needs of both our customers and staff. The improved access to products and markets will enable us to grow both our contractors’ account and our traditional customer base.”

CCV chairman, Peter Cullum, adds: “In CCG we have added a well established business with an excellent track record to the family. Our strategy of acquiring and investing in good quality regional brokers continues at a pace and we have a number of further deals in our sights for the first quarter of 2008”