David Perry of Minority Venture Partners Ltd has been appointed to BIBA’s Small Brokers Advisory Board.
The role of the SBAB is to ensure that issues affecting smaller brokers are properly represented to the main BIBA Board and Executive. It acts as a sounding board to the BIBA team, providing advice and counsel on all matters relating to small firms.
David’s background made him an ideal candidate as it includes building his own firm (Warren Hill), setting up an insurance scheme for the Federation of Small Businesses and helping establish CCV, which acquired retail brokers. Steve White, CEO of BIBA said, “We are delighted to have someone of David’s experience and calibre joining the Small Business Advisory Board”.
Minority Venture Partners Limited (MVP) has made a strategic investment in Kingsway Insurance Services.
Leigh Birrell, Managing Director of Kingsway said: “MVP’s decision to make an investment in our business is testament to our successful business model and our experienced team who have successfully developed niche commercial insurance sectors, such as motor sport, metal workers and toolmaking.
Kingsway is a family run business, which has been established for over 50 years, with a large and loyal client base. We remain committed to providing our clients with exceptional service and with MVP’s help and access to new markets, we plan to grow the business further by expanding our specialist commercial insurance products. With our new partner on board we aim to increase GWP to £15million within 3 years.”
James McCaffrey, Chief Executive of MVP said: ”Kingsway Insurance is a highly regarded insurance broker and I am looking forward to working with Leigh and the team to support them in their future plans. They have developed a superb range of specialist commercial insurance products and along with their reputation as a client focused organisation, it is easy to see why they have been so successful for so long.
As an investment partner, MVP will support the business whilst the management team continue to run, control and grow their own business. We provide an ideal environment for brokers who want to grow and be part of an independent, entrepreneurial business and with premium income of over £100m, we are growing quickly.”
Kingsway Insurance Services buys Bausor Hall
Kingsway Insurance Services’ parent company, The Birrell Group, has acquired Bausor Hall Associates Limited, who are based in Coventry. Established for over 30 years, Bausor Hall is a successful insurance broker specialising in business insurance.
Leigh Birrell, Managing Director of Kingsway Insurance Services, said: “Bausor Hall is a well-respected local broker that shares our commitment to offering exceptional personal service. I am delighted they have chosen to join Kingsway and that the whole team is staying with the business. Bausor Hall will continue to trade from their existing office in Coventry and I am looking forward to working with Brian and his team to help develop the business further.
This is our first acquisition since Minority Venture Partners invested in Kingsway in April 2016. Using their expertise, we have developed a successful acquisition strategy to meet our growth ambitions and it is a great result to have completed our first deal within 6 months with further acquisitions planned.”
Brian Hall, Managing Director of Bausor Hall, added: “It was important to us that we joined a like- minded insurance broker that provides the same care and personal attention to clients as we do. Kingsway offers the ideal home for our loyal customer base who will now enjoy the added advantages of being part of a larger broker, with access to new markets and products.”
James McCaffrey, Chief Executive of Minority Venture Partners, said: “As a strategic investor in Kingsway, we are delighted that with our help, Leigh and his colleagues have completed their first acquisition to support their ambitious growth plans. We are currently in discussions with a number of other local brokers who wish to join the Kingsway/ MVP model.”