Daily Insurance Industry News
 
 
Daily Insurance Industry News
Sunday 26th of May 2019
June 7, 2010

Moorhouse contemplates M&A moves

by Richard Kilner

Story link: Moorhouse contemplates M&A moves

Welsh broker Moorhouse is seeking to augment its organic growth with the acquisition of a broker with gross written premium of up to £5m.

Such a strategic move would involve a broker that fit Moorhouse’s core areas (including SME) or had a model based on the internet or call centres.

Moorhouse has stated that the acquisiton will be used as a trial for possible future takeovers, though it will be stringent about prospective acquisitions in the future.

Chairman Lyndon Wood has explained that the timing of the acquisition is perfect, as capital gains tax is set to be increased in the emergency Budget (on 22 June).

Wood added that he was excited about the acquisition, but added that the firm would only make other acquisitions if they fit with Moorhouse and not for the sake of expansion alone.

In November last year Moorhouse was named as the fastest growing broker in Wales, according to the University of Wales.

From 2006 to 2008 the firm more than doubled in size, and is around 30% larger than its closest rival.

 

News posted:



Related stories to Moorhouse contemplates M&A moves: