Seventeen Group, a UK-based insurance and risk management organisation, has announced the acquisition of East Pennine Insurance Consultants (EPIC).
Financial details of the transaction have not been disclosed.
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The latest acquisition marks Seventeen Group’s entry into the Yorkshire market.
EPIC, which is known also as Fletcher Smith in Sheffield and North East Insurance Brokers in the North East, was established in 1985.
It currently controls £6.1m ($7.7m) in gross written premium.
The company offers a range of insurance services including material damage/property, motor trade, traders combined/business cover, motor fleet and commercial vehicle, employers’/public and products liability, money and fidelity guarantee, marine and transit, and professional indemnity.
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By GlobalDataAt present, EPIC’s team consists of nine employees, including directors Steve Brooke and Simon Walton.
With EPIC’s strong foothold in the motor trade sector, Seventeen Group plans to establish EPIC as a ‘centre of excellence’ for this class of business.
The acquisition is expected to bolster Seventeen Group’s motor trade insurance expertise and create broader opportunities for both Seventeen Group in the North and James Hallam.
James Hallam Insurance Brokers is an independent Lloyd’s broker and a subsidiary of Seventeen Group.
This acquisition also aligns with Seventeen Group’s strategy to grow its regional businesses throughout the UK.
Seventeen Group CEO Paul Anscombe adds: “I am pleased to welcome the EPIC team. This is our first acquisition in Yorkshire and so represents a huge opportunity to build our presence going forward.
“We have achieved significant success in developing other regional businesses across the UK and EPIC creates additional value through its extensive motor trade knowledge and experience.”
Since its foundation in 1982, Seventeen Group has evolved into a multifaceted insurance and risk management entity, actively investing in the UK insurance market since 2001.
The acquisition follows Seventeen Group’s recent expansions, including the purchase of Wiseman Insurance Services and North West Risk Solutions earlier in June 2024.
In March 2024, Seventeen Group announced the acquisition of Keith Miller Insurance Services and a book of business from Hendricks Insurance.
