A1 on road to growth through acquisition

Prior to the takeover, Wetherby-based A1 Insurance Services’ turnover was £1.3m and Harrogate’s John Matthews and Co’s was £350,000. A1 Insurance Services is forecasting a combined turnover of £1.5m by the end of the financial year.

A spokeswoman for the company said that of the three people that worked at John Matthews and Co, two retired and the third chose to leave when the business was taken over. One of those who retired was the former owner of the business John Matthews.

A1 Insurance Services offers a range of policies including household and car insurance. The majority of accounts acquired from John Matthews and Co are in personal insurance.

MD of A1 Insurance Services, Ian Darnbrook, said: “Acquiring John Matthews and Co is a significant move for us but we’re not targeting aggressive expansion. We would certainly hope for more growth in 2013 – but it’s more likely to be organic.”

He added: “We knew John Matthews wanted new owners who could offer their clients the same levels of personal service – and that’s always been at the core of our own business.”

Mr Darnbrook will continue to share day-to-day management duties with A1’s commercial insurance adviser Alan Beardmore. A1 is owned by Mr Darnbrook and Valerie Beardmore.