Acrisure buys 175-person UK brokerage groupPosted On: Oct. 26, 2022 11:55 AM CST
Acquisitive brokerage Acrisure LLC said Wednesday it has agreed to buy U.K. brokerages Sutton Winson Ltd. and Sutton Specialist Risks Ltd., which have a combined staff of 175.
Terms of the deal were not disclosed.
Twickenham, England-based Sutton Winson is a privately owned commercial, employee benefits and personal lines brokerage and has 140 staff. Its sister company, Bristol, England-based Sutton Specialist Risks, is a managing general agent, affiliated mainly with QBE Insurance Group Ltd., and has 35 staff.
According to their most recently filed accounts, Sutton Winson reported £9.7 million ($11.3 million) in turnover in 2021 and Sutton Specialist Risks reported £4.5 million.
Acrisure, which has grown rapidly by acquisition over the past five years, is the world’s eighth-largest brokerage, according to Business Insurance’s most recent ranking. In the first nine months of 2022, it was the most acquisitive brokerage in the U.S., with 80 deals announced.