Southwater MD Andy Macauley becomes member of senior advisory team as staff move across.
Sussex-based Bennett Christmas Insurance Brokers (BCIB) has purchased local firm Southwater Insurance Services, increasing its regional footprint.
Southwater was founded by managing director Andy Macauley in 1985 and has a mixed portfolio of commercial and personal lines.
According to BCIB, Southwater controls gross written premium of around £1.2m.
Following the deal Macauley will become a member of BCIB’s senior advisory team, while Southwater staff based in Billingshurst, West Sussex, will move offices to join BCIB.
Southwater is Bennett Christmas Group’s fourth acquisition and the broker said it was a “good fit”.
Community
Group finance director Roger Christmas said: “We’ve known Andy since he set up the business nearly 30 years ago and have been underwriting some of his accounts for the past four years through BC Underwriting (BCU), so we were confident that this was a good fit for both of us.
“The two businesses are similar in many ways. Southwater is a community broker with roughly a 75/25 split in commercial and personal accounts – our ideal ratio – and a track record in looking after its clients personally.”
He continued: “Both companies’ working processes, procedures and passion for unparalleled commitment to customer service and customer care are very similar.”
Traditional
Meanwhile, Macauley said the deal was a “win/win for Southwater clients”.
He added: “Although they are a comparatively large business, BCIB still holds true to traditional broker values of truly getting to know your client and anticipating their needs – so I’m confident Southwater’s clients will see little change in the way their relationships are handled.
“Where they may well see additional benefits is through BCIB’s relationship with its insurers.”