CCV announces today the acquisition of Antur Insurance, a leading Welsh broker.
Headquartered in Swansea, Antur Insurance controls gross written
premiums of £25 million, comprised predominantly of commercial lines
business as well as a personal lines book. It was established in 2001 as
a joint venture between four companies and has grown steadily though
strategic partnerships and acquisitions to become the leading
independent broker in South West Wales. It employs 80 staff and has
achieved chartered broker status, one of only 3 Welsh brokers to do so.
CCV has acquired 80% of the business with the Antur management team retaining the remaining 20%. All staff will be retained.
Michael Rea, CEO of CCV, comments: "We are naturally delighted to bring a
business the size and standing of Antur into the group. It is a very
well run business, with a real commitment to professionalism and the
development of its people. Its model fits perfectly with CCV and we will
be working together on future acquisitions to support our ambitious
growth strategy. Along with our existing businesses in and around
Cardiff, the acquisition of Antur gives us a very strong market presence
in Wales. We have a number of deals currently in the pipeline and I
expect a busy final quarter as we bring these deals to completion."
John Knox, Chairman of Antur Insurance explains the appeal of CCV:
"Notwithstanding the calibre and reputation of CCV, it was the fact that
we could maintain our own identity and brand under their ownership
which convinced us this was the right move. We have not been without
suitors over recent years, but the ability to maintain our independence
was crucial for us and CCV's proposition stood out in enabling us to do
that. Our clients will continue to be looked after locally by Antur
Insurance, but now with the broader offering and buying power of a large
UK broking group behind us."
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