Abergavenny insurance broker completes fifth acquisition
Wed, 22 May 2024 | BUSINESS SALE
FR Ball Insurance Limited, an independent insurance broker based in Abergavenny, has completed its fifth acquisition in the space of two years. The firm has acquired Howell Insurance Services Limited, based in Llantwit Major, Bridgend.
Howell Insurance are specialists in commercial and personal insurance, bringing significant expertise into FR Ball’s strong existing offering of commercial and personal insurance services.
Paul Wadsworth, Managing Director of FR Ball Insurance, commented: “We welcome the team from Howell Insurance Services and the expertise they bring with them. We have been actively seeking to acquire traditional insurance brokers with the same business ethos and commitment to customer service, as our own and the last two years have been very exciting for us.”
“These highly successful acquisitions have provided us with very satisfying growth, more product availability for our customers and the opportunity to provide new job opportunities in our parts of Wales and England.”
Over the past two years, FR Ball has acquired Ebbw Vale-based Lawson D Jones Insurance Consultants, Overton-based Wessex Business Services Limited, Wimbledon-based Export & General Limited and a fellow broker’s private motor and householders insurance portfolio.
This activity has come amid rapid consolidation in the UK’s insurance broker segment, which continues to be the busiest dealmaking market in the European insurance sector. FR Ball’s success saw it awarded Compliance Broker of the Year award at the Bravo Networks Conference in February 2024.
Paul Wadsworth continued: “For us to have made all these acquisitions in such a short period of time and to win the award for Compliance Broker of the Year is hugely encouraging.”
“Our investment in these new acquisitions, now operating from five locations in England and Wales and the continued growth and development of our IT system also, places us in a very strong position moving forward and we have set our ambition of achieving upwards of £24 million in Group Gross Written Premium, over the next three years.”
While the UK remains the most active M&A market in Europe for brokerage deals, there have been indications that activity may have peaked
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