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AssuredPartners Inc. said Friday it has acquired Scotland broker Borland Insurance Ltd.
Terms of the transaction, which has received regulatory approval and will close Feb. 1, were not disclosed.
Borland’s 30 employees will all remain with the company under the leadership of Borland CEO John Silcock, the statement said.
Borland has offices in Edinburgh, Aberdeenshire, Fife and Colchester and provides commercial coverage for business risk ranging from property exposures to general liability/workers compensation, contractors all risks and professional liability.
AssuredPartners said the deal adds to its expanding footprint in the U.K. retail brokerage space following acquisitions in Birmingham and Chester and added that it also recently announced the opening of an office in Belgium.
David Heathfield, CEO of AssuredPartners in the U.K., said in the statement the broker is “excited about establishing a presence in Scotland.”
Lake Mary, Florida-based AssuredPartners is the 12th-largest broker of U.S. business, with about $1.4 billion in annual brokerage revenue, according to Business Insurance’s latest ranking.
AssuredPartners Inc. has acquired People’s United Insurance Agency for $120 million cash, Lake Mary, Florida-based AssuredPartners said in a statement Thursday.