Insurance Partnership aims for the top after latest acquisition

A YORKSHIRE-based independent insurance broker has secured a key acquisition as it aims to become one of the biggest firms in its sector by 2015.

The Insurance Partnership has expanded its presence in the West Midlands with the acquisition of Wolverhampton-based Rhodes Wood Risk Services, which has six staff.

Rob Worrell, the managing director of the Insurance Partnership, said: “The acquisition of Rhodes Wood represents a genuine meeting of minds.”

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The Insurance Partnership, which is based in Hull, has 180 staff, and opened an office in Leeds last year as part of its expansion strategy. The company now has six offices across the UK, including a base in York.

In a joint statement, Graham Darby and Michael Wood, the partners at Rhodes Wood, said: “In order to provide our clients with the professional, hands-on service we have delivered over the past 25 years, it was very important we chose the right partner. We feel the Insurance Partnership will continue what we started and we look forward to working together with them.”

Financial details surrounding the deal have not been disclosed.

The Insurance Partnership was established in September 1993 by four partners who had worked for Minet Insurance Brokers in Hull.

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Today, it has 150 staff based in Hull, with around 90 per cent of them working in the company’s general insurance broking arm.

The Insurance Partnership has staff specialising in areas including haulage, logistics, agriculture and private client management.

Last year, Mr Worrell said: “We are in the top 30 in the UK independent insurance market.

“We hope to achieve top 10 status in the next three to five years. However, we won’t chase growth at the expense of delivery.”