H&H Group strikes deal for insurance company
Last updated at 13:50, Wednesday, 07 November 2012
An expanding company which last month revealed record profits has bought a Brampton insurance firm.
H&H Group has announced it has struck a deal to acquire John Pieri Insurance Services.
It will be incorporated into the group’s H&H Insurance Broker’s division, with staff from the Brampton business joining the Carlisle operation of what is now one of the country’s biggest rural insurance brokers.
H&H, whose profits have risen by nearly a quarter to £1.44m in the past year, say the deal will help efforts to further expand the business and its commercial insurance work.
In the last three years, the firm has opened offices in Aberdeen, Cheshire and North Wales and has seen staff numbers double from 13 to 26.
H&H Insurance Brokers managing director Philip Pagin said: “We have known John Pieri and his team for a long time and believe this to be a good move for both businesses.
“It increases the size of our insurance portfolio by 20 per cent and will significantly increase our commercial offering to small and medium sized enterprises as well as business professionals.
“It was important for us to provide continuity for his customers so we are very pleased John and all of his staff are transferring to work with us here in Carlisle and we look forward to working with them.”
Mr Pieri said that, as a relatively small broker, the firm, established in 1995 and a specialist in the commercial and corporate sector, the company was looking for a bigger partner.
“H&H Insurance Brokers ticked all the boxes for us,” he added.
“It’s important the customers see no change and I will still be very much looking after the same customers as before.
“I am very excited by this development and look forward to working with H&H.”
H&H say the deal is evidence of the company’s strategy to expand and develop the group’s individual businesses when opportunities arise.
First published at 13:46, Wednesday, 07 November 2012
Published by http://www.newsandstar.co.uk