Daily Insurance Industry News
 
 
Daily Insurance Industry News
Thursday 18th of January 2018
May 3, 2011

Central acquires Aberdeen broker

by Gill Montia

Story link: Central acquires Aberdeen broker

Central Insurance has acquired Collins, Halden & Burnett, an Aberdeen-based independent broker, in a deal worth £2.6 million.

The firm’s 23 staff will transfer to the new owner’s main office, also in Aberdeen, bringing the number of staff employed by Central to 113.

The acquisition, financed by cash and shares, will boost Central’s premium placement into the UK insurance market to £51 million and strengthen its claims capability.

Among those joining from Collins, Halden & Burnett is a dedicated claims team headed by a Chartered Loss Adjuster, at director level.

In addition, both companies have sound relationships in the farming and construction sectors and the deal will take advantage of synergies in their work.

Central managing director, Iain Henry, comments: “Central aspires to target new sectors as the company continues to expand and this deal will help us to achieve our aims.”

Graeme Yule, formerly managing director of Collins, Halden & Burnett, adds: “This is a wonderful opportunity not only for everyone who was employed at Collins, Halden & Burnett but also for our clients, who will benefit from the wider range of services that Central offers.”

 

News posted:



Related stories to Central acquires Aberdeen broker: