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Specialist insurer Ecclesiastical has agreed to buy the insurance brokerage businesses of South Essex Insurance Brokers Limited (SEIB) and Equestrian Underwriting Agencies Limited. The Essex-based broker generates nearly £28m GWP through mainly commercial schemes business.

Acquisition of the operational assets and liabilities is expected at the end of March. The broker’s staff and office location will remain unchanged by the sale and SEIB will continue to be the trading name for the new company. Ecclesiastical’s Group Chief Executive Michael Tripp will chair the new board, and Steve Wood, Managing Director for Ecclesiastical’s UK & Ireland business, will become a board member. Barry Fehler, founder of SEIB, will join the new board as deputy chairman.

Steve Wood said: “We have been reviewing our distribution capability, especially in light of increased market consolidation. Buying South Essex Insurance Brokers gives us direct access to a top broker and an established network of sub-brokers to further enhance our ability to reach our target customers. As its new owners we will encourage SEIB to continue to offer independent advice and will be able to assist with marketing, distribution and strategic planning. We’re looking forward to SEIB being part of the Ecclesiastical Group and to developing business with Barry Fehler and the SEIB team.”

Barry Fehler said: “I am very pleased to have done a deal with Ecclesiastical. There is a great fit in terms of values and this is a strong arrangement for the customers and staff of SEIB. We will continue to operate independently and to work with a broad range of insurance providers.”

For further information please contact:
Chris Pitt, PR Manager, Ecclesiastical Insurance
Tel: 01452 334984
Mobile 07730 068821
Email: pressoffice@eigmail.com
Visit www.ecclesiastical.com
Beaufort House, Brunswick Road, Gloucester, GL1 1JZ.

ENDS


About Ecclesiastical
Ecclesiastical is a specialist insurer offering charity insurance, schools insurance, care sector insurance, churches and historic buildings insurance.

Founded in 1887 to provide insurance for the Anglican Church, it now offers a wide range of commercial insurances, as well as home, travel and wedding insurance, selling through brokers and direct.

Ecclesiastical also provides a range of financial services through IFAs and direct, including a range of ethically screened investment funds..

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