A Liverpool insurance firm is expanding into North Wales after acquiring another broker – its fourth such deal since it was itself acquired in 2021.
Butterworth Spengler Insurance Brokers has taken over Prestatyn-based Anchor Insurance Services, which will become its first North Wales base.
Family-run Anchor was founded in 1980 and purchased by Gareth Morris in 2000, growing from an £80K gross written premium (GWP) business to a £2M GWP business. It works mainly with holiday parks along the North Wales coast, as well as with local property owners and SMEs. Anchor will continue to operate under its current brand.
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Butterworth Spengler was acquired by the growing JMG Group in March 2021 and has since acquired four businesses – Brunsdon Insurance Brokers, Kompliant, Rockland Risk Services and now Anchor.
Gareth Morris, managing director at Anchor Insurance, said: “This is a very exciting step for our business. Our growth so far has come through delivering high quality services which clients are happy to recommend. Becoming part of Butterworth Spengler and the wider JMG Group means we can grow further by enhancing our services while maintaining the personal touch we’re known for in the community.”
John Lacey, managing director at Butterworth Spengler, said: “Anchor is a quality family business which gives us a strong foothold in North Wales – an area we have been keen to move into. As well as bringing additional expertise and opening up opportunities, having this base will give our existing clients in this area easier access to our services. I can already see that Gareth and his team’s hands-on approach is a great fit for our business and I am looking forward to seeing what we can achieve together.”
The JMG Group was founded in 2020 following a management buyout of JM Glendinning Insurance Brokers that was led by Group CEO Nick Houghton and backed by SYNOVA. The group now has a team of over 700 across 45 offices, placing over £330m of premium annually.
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