Giles acquires Durham-based Arnott Commercial

by Gill Montia

Story link: Giles acquires Durham-based Arnott Commercial

Giles Insurance Brokers has announced the acquisition of Arnott Commercial Insurance Services and its subsidiary, Arnott Marine.

Durham-based Arnott was established in 1996 and its marine division began trading in 2005.

The firm established itself in the North East by providing risk solutions to the commercial market and recorded revenue of £1.9 million in 2007.

The business employs 23 staff and will continue to be headed by managing director, Gerard O’Connor, on completion of the transaction.

The acquisition will strengthen Giles’ geographical base and establish its presence in the marine sector.

Giles currently has thee branches in North-East England and the broker’s chief executive, Chris Giles, sees the acquisition of Arnott as a significant step in developing the firm’s position in the region.

Mr Giles also has plans to expand further in the marine sector, which he believes presents significant opportunities for future growth.

Giles was established in 1967 and has expanded rapidly in recent years. The group now employs over 900 staff and places in excess of £300 million premium annually.