BNH Broker Network

RNS Number:8011G
Broker Network Holdings plc
01 November 2007



01 November 2007


                          Broker Network Holdings plc
                       ("Broker Network" or "the Group")


                      Broker Network Acquires Member Firm


Broker Network, a national insurance distribution business incorporating:

*   a network for independent insurance brokers,

*   a retail insurance broker for the provision of insurance advice to
    businesses and private individuals across the UK, and

*   a Lloyd's and London market wholesale insurance broker,

is today pleased to announce the completion of the acquisition of commercial
insurance brokers George Williams Insurance Services.


George Williams, based in Denbigh, has been a Member of Broker Network for three
years. The Company is being purchased in line with the Group's proven
acquisition strategy.


A condition of the deal is that the purchase price parameters will remain
confidential. However, the Group confirms that this latest acquisition is
broadly in line with the other similar acquisitions made to date.


George Williams will join Broker Network Insurance Brokers ("BNIB"), the Group's
UK wide retail operation. The Company will retain its brand identity, premises
and staff and will continue to benefit from market leading business and insurer
services.


Grant Ellis, Chief Executive of Broker Network said today:


"We are delighted to have completed this acquisition, the third in as many
months, which is a reflection of our healthy acquisition pipeline. We would like
to welcome George Williams to BNIB and trust it will continue to prosper as part
of our consistently successful Group."


Also commenting on the acquisition, Nigel Law, Managing Director of BNIB said:


"The acquisition of George Williams brings another Member into our BNIB family,
once again reinforcing the validity of our acquisition offering across the
Network. We look forward to a fast and efficient integration of the Company into
our retail division."


The purchase of George Williams has been completed following approval by the
Financial Services Authority of the change of control of the business.


                                     -ENDS-


For further information, please contact:


Broker Network Holdings plc

Grant Ellis

Chief Executive                                01423 877812



Julie Hale

Finance Director                               01423 877826



Kelly-Ann Knight

Head of PR & Communications                    01423 554147


www.brokernetworkgroup.co.uk



Cenkos Securities

Andy Roberts (Sales)                           020 7397 1934

Ian Soanes (Corporate)                         020 7397 8921


Notes to Editors


Key Facts:



  * Broker Network Holdings plc listed on AIM in May 2004 at a price of 71p
    per share.

  * Since listing on AIM, the Group has made 22 acquisitions, including the
    one detailed above

  * The Group employs over 450 people, with headquarters in Harrogate, North
    Yorkshire

  * There are currently 169 Members of the network business

  * The total annual premium income of the Group is approximately #450m



Broker Network Holdings plc, trading as Broker Network Group, is the parent
company of 4 trading divisions:-



Broker Network Limited



Broker Network is the trading name of The Broker Network Limited. It is the UK's
largest network of independent commercial insurance brokers. Broker Network
negotiates centrally with insurers or wholesale intermediaries using the full
combined weight of the Members and Members can place business via these
facilities. In addition, Broker Network provides Members with an extensive range
of business support services including marketing, compliance, IT, training and
human resource management.



Broker Network Insurance Brokers



BNIB is the retail arm of community insurance brokers, acquired from both within
and without Membership. It was established in 2004 to support Broker Network's
proposition for Members contemplating retirement. Members who have sold their
businesses to Broker Network benefit from a flexible deal structure, retaining
their company name, existing employees and often premises.



TL Risk Solutions



TL Risk Solutions, in which Broker Network Group owns a majority stake, is a
leading provider of risk management, healthcare and insurance advice to
businesses and private individuals across the UK. The business currently has
some 4,000 corporate clients and over 18,000 private clients and its principal
focus is on mid-sized corporate businesses in the UK and mid to high net worth
private individuals. The company places over #50 million GWP into the general
insurance and healthcare markets. Originally established as the insurance
broking arm of the Towry Law Group in 1965, it was sold to the Broker Network
Group on 01 July 2006.



Broker Network London Markets



BNLM is the trading name of London Broking Services. It was established to
provide Members with access to Lloyd's and London markets for insuring clients
involved in specialist or high-risk activities. Through BNLM, Broker Network was
the first network to receive full accreditation as a Lloyd's broker.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQUAVWRBNRARRA

Grafico Azioni Broker Network (LSE:BNH)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Broker Network (LSE:BNH)
Storico
Da Giu 2023 a Giu 2024