Brown & Brown (Europe) Ltd has completed its acquisition of 100% of the share capital of Berkeley Insurance Group, in its first UK broking acquisition since it rebranded from Global Risk Partners Ltd last month.

One of the UK’s largest independent insurance brokers, Berkeley is headquartered in Leicester with offices in Birmingham, London and Edinburgh.

Berkeley will become part of Brown & Brown’s UK Retail Division. Tim Maxted (chairman and CEO), Jonathan Yeeles (finance director), the wider management team and all staff will move to the new arrangement.

The Berkeley brand will remain and the business will continue to trade from its current offices.

Commenting on the deal, Mike Bruce, CEO of Brown & Brown Europe, said: “Berkeley is an excellent advice-led broker which, under Tim’s leadership, is characterised by strong organic growth, a clear strategy and a highly entrepreneurial, respected management team.”

“It brings a number of sector, product and proposition capabilities to our Retail Division in the mid-market customer segment. We are keen to build on Berkeley’s success in this market sector. We will be looking to leverage the Berkeley team’s extensive experience and areas of specialism across our UK operations.”

Tim Maxted added: “We have always prided ourselves on our position as one of the UK’s leading advice-led brokers in the mid-market. Having discussed our future objectives and ambitions with Mike and Powell [Brown], it quickly became clear that there was true strategic and cultural alignment between us.”

“We were especially attracted by the ‘forever company’ ethos, which is at the heart of the Brown & Brown philosophy and exactly reflects how we think about our business. It is especially gratifying to be the first broking acquisition for Brown & Brown following the name change. We are excited about the next chapter for Berkeley, for our customers and our team and taking advantage of the opportunities from our future partnership with Brown & Brown.”

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