AssuredPartners buys UK brokerage
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AssuredPartners Inc. has bought Chippenham, England-based commercial and personal lines brokerage PSP Insurance and Financial Solutions Ltd.
Terms were not disclosed.
PSP reported about $6.5 million in annualized revenue, Lake Mary, Florida-based AssuredPartners said in a statement Monday.
Founded in 1981, PSP has offices across the southwest of England and places about £22 million ($29 million) in gross written premium, AssuredPartners said.
AssuredPartners, the 11th largest broker of U.S. business, according to Business Insurance’s most recent ranking, has made several acquisitions in the United Kingdom over the past three years, including Scottish brokerage Borland Insurance Ltd. earlier this year.
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