Why Finch Group?
With every acquisition of an insurance broker, we have different cultural and logistical issues to resolve, but on each occasion the vendors chose Finch Group because it represented a safe home for its staff and clients alike. Selling an insurance broker is like selling your life’s work‚ it is essential to have some comfort that the qualities and values that you have developed will be respected.
Our insurance HQ is a modern office in Woodley, Reading which we have occupied for circa 10 years. We also have a branch office in Basingstoke and most recently Southampton, Portsmouth, Bournemouth and the Isle of Wight.
Finch Group employs over 70 members of staff, including the three working Directors, Matthew Finch (Operations Director), Vincent Gardner (Managing Director) and Maire Brown (Commercial Director).
Denis, Nick and Steve have all sold their Insurance Brokerages to Finch Group, find out their views on the aquisitions;
Many people set up a business with the ultimate goal of selling it and moving to pastures new.
Since establishment in 1996, Finch Group has grown by both organic means and by way of several acquisitions of insurance brokers, namely:
- Specialist Insurance Agency (SIA) Southampton
- Opus Risk Solutions (Bournemouth)
- County (Shaftesbury)
- Taylor Beaumont (Southampton)
- Ben Bishop (Isle of Wight)
- Miller & Co (Hambledon)
- Fairman Insurance Services (Crowthorne)
- Maurice Keating – Commercial Book only (Camberley)
- Kennet Insurance Brokers (Thatcham)
- Atwoods (Great Bookham)
- Paul Jones Insurance (Southampton / Isle of Wight)
- Citymain Insurance (Fleet, Hampshire)
- Ashcombe Border Insurance Services (Liphook)
- Richmond Insurance Brokers (Eton)
The total GWP of the business is now approximately £38M having started off in 1996 at £350,000.
Selling An Insurance Brokerage
You’ve probably already got a time in mind for a sale, but timing is generally dictated by market conditions. The best indicators of when to sell are the financial climate, potential buyer profiles and market trends. Early planning will ensure that you have the right structures and processes in place to maximise success when conditions are right.
You will not want to sell your insurance business to a buyer that you do not trust, so there is no time like the present to start to consider who is the best fit and who is able to offer you the right deal.
To do that, you are going to need a buyer that ticks all of the boxes‚ which must include:-
- Financial Backing & Security
- Above Market Value Price
- Geographical Fit
- Similar Business Mix
- Service & People Culture
- Totally Independent