Risk Services takes over ailing Astbury Wren

Risk Services takes over ailing Astbury Wren :  Announed by Steve Lowe of Risk Services earlier this week. 

From what we hear, it was inevitable that the 'book' of business and some staff would be transferred elsewhere.  Not sure whether or not the 'bigger' story has now been quashed - that will depend on the deal which Steve Lowe has done.  We may read more in the press in weeks to come.  Good luck to all concerned.

The press release for clients on the Astbury Wren website:

 

I am writing to advise that we have acquired the former Astbury Wren business together with the existing Astbury Wren staff from 20th February 2012.  

In the short term we will continue to occupy the former Astbury Wren premises and your points of contact including telephone numbers and email addresses will remain unaltered.  Consequently you will see no interruption to your current insurance arrangements and there is no action you need to take to ensure continuity of cover and service.  It is our intention to relocate the Astbury Wren staff into our existing Chester premises at 171 Boughton, Chester over the coming weeks and we will contact you again once a date for this has been agreed.

Your custom is extremely valuable to us, and I would like to take this opportunity to reassure you that it is very much business as usual. However, if you do have any concerns or queries please do not hesitate to get in touch with us or indeed contact me, or one of my co-directors, Phil Hazlegreaves and Tom Penn, and we will be very happy to answer any queries that you may have.

Risk Services (NW) Ltd is an independent commercial insurance brokerage established in 1999. Like Astbury Wren, we are based in Chester, and also like them, we are absolutely committed to providing a personal and professional service to all of our clients. We are the now largest independent broker in the Chester area. The acquisition of the Astbury Wren clients and staff (Astbury Wren & Co Ltd went into administration on 20th February 2012) will enable us to continue our growth whilst reinforcing our commitment to Chester, the North West and North Wales by retaining local jobs.

Yours sincerely

Steve Lowe, ACII

Managing Director

Risk Services (NW) Ltd.

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“The Moors are alive with the sound of Bollington”

Can Paul Moors pull this one off?  Bollington, Gresham, Paul Moors, Groupama – names which we’re all interested in at this moment in time.  Gossip, gossip, gossip.........

Insurance Times reported last week: “Manchester-based broker Bollington is being courted by a number of private equity firms to help with a management buyout, with Giles’s former backers Gresham leading the chase…..Staff and management, including chairman Paul Moors, currently have a minority shareholding of 40% and could use private equity funding to buy themselves out of Groupama ownership.”

Research suggests that Mr Moors (fortunately) negotiated a contract at the start of this journey giving him first refusal at an agreed price should the unexpected happen.  And now that it has, securing a contingent future so long ago is a great achievement.  For the staff and for Paul, let’s hope this is true!  However, be aware that 99% of us gossips are usually 100% wrong. 

Dr John C Mitchell

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Views expressed are those of the author only – and true simply to the best of my knowledge.  All information is sourced from publically available sources or emanates from sources deemed to be acting in the best interests of all concerned.  No malicious intent or offence is intended to anybody involved or associated.  No liability is accepted.