Brown & Brown (Europe) Limited (‘Brown & Brown’) has acquired 100% of the share capital of Oxlea Investments Ltd, trading as Stewart & Partners.
Stewart & Partners is based in Welling, Kent, and will become part of Green Insurance Group (‘Greens’), Brown & Brown’s South East retail broker.
Stewart & Partners was established in the 1960s and writes commercial and personal lines insurance. All members of the team, including senior leadership, will transfer across to Greens, and the business will continue to trade from its existing office.
Duncan Coleman, Greens’ Chief Executive, welcomed Stewart & Partners to the Group, saying, “Stewart & Partners is the epitome of a well-run, customer-centric community broker.”
“I’ve been impressed by the team’s dedication to customer service across their portfolio, and I’m confident they will make an excellent contribution to Brown & Brown in the future.”
“I’m keen to help director Shaun Hetherington and his team expand their customer base in Kent and beyond, including in South East London, and of course, they will benefit from the extra resources and firepower we can provide.”
Commenting on the deal, Shaun Hetherington, who runs the business alongside fellow director Neale Huelin, said: “I’ve been part of Stewart & Partners since 1994, trading as an independent broker and building up a loyal customer base.”
“The opportunity to become part of Greens and the wider Brown & Brown team was too good to miss, and we are all very excited about the future.”
“There’s no doubt that our customers will benefit from the additional capabilities, products and services we’ll be able to provide as part of Brown & Brown, and Duncan and his colleagues are hugely supportive of our exciting future growth plans.”
The acquisition has received regulatory approval, and the consideration is undisclosed.
About Brown & Brown (Europe) Limited
Brown & Brown (Europe) Limited operates retail broking, specialist MGA, network and Lloyd’s businesses, enabling the business to serve the growing insurance and risk management needs of its customers. Brown & Brown (Europe) is an operating unit of Brown & Brown, Inc.’s Retail segment. For more information or to find an office near you, please visit bbrown.com/eu/.
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With approximately 16,000 teammates in 500+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information, please visit bbinsurance.com.
This press release may contain certain statements relating to future results, which are forward-looking statements, including those associated with the timing of the release of our fourth-quarter results. These statements are not historical facts but instead represent only the current belief of Brown & Brown, Inc. and its subsidiaries (collectively the “Company”) regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual events may differ from anticipated events contemplated by these forward-looking statements and that we may release our fourth-quarter results at a later date as a result. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s release of its financial results, is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements made herein are made only as of the date of this release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company hereafter becomes aware.
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UK press information: Ben Welsh 07568 382040