Daily Insurance Industry News
Daily Insurance Industry News
Sunday 26th of May 2019
February 22, 2008

Ecclesiastical takes control at SEIB

by David Masters

Story link: Ecclesiastical takes control at SEIB

South Essex Insurance Brokers (SEIB) and Equestrian Underwriting Agencies have been acquired by Ecclesiastical.

SEIB controls a total premium of almost £28 million. This premium is mostly from the broker’s commercial schemes business.

Ecclesiastical expects that the acquisition of SEIB’s operational assets and liabilities will be complete by the end of March. SEIB’s name, location and staff will be unaffected by the acquisition.

The chief executive of the Ecclesiastical Group, Michael Tripp, will be chair of the new board. Ecclesiastical’s managing director of UK and Ireland business, Steve Wood, will become a board member. The found of SEIB, Barry Fehler, will be deputy chairman on the new board.

Fehler said that he is “very pleased to have done a deal with Ecclesiastical.”

He added: “There is a great fit in terms of values and this is a strong arrangement for the customers and staff of SEIB. We will continue to operate independently and to work with a broad range of insurance providers.”

Steve Wood said of the acquisition: “We have been reviewing our distribution capability, especially in light of increased market consolidation.

“Buying South Essex Insurance Brokers gives us direct access to a top broker and an established network of sub-brokers to further enhance our ability to reach our target customers.

“As its new owners we will encourage SEIB to continue to offer independent advice and will be able to assist with marketing, distribution and strategic planning.”


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