Ethos Broking Group has announced it has agreed a deal which will see Independent insurance brokers, Guy Penn and Co join its portfolio.
Guy Penn and Co Ltd is a long-established community-based personal and commercial lines broker located in Lancashire. Established in 1971, the business which operates from four locations across the North West, including Lytham St Annes, Kirkham, Lancaster, and Poulton-le-Fylde, employs 30 individuals and manages over £9m GWP.
In addition, the brokerage also runs two agencies for Yorkshire Building Society, employing an additional seven people. Led by chairman, Nicholas Martin and MD, Kierson Owen, the existing workforce will join Ethos Broking as part of the deal and the office premises will be retained.
Ethos Broking MD, Richard Tuplin said: “Guy Penn has been part of the Bravo family, as a Broker Network member, for a number of years so we know Nicholas and Kierson well. They run a fantastic business with a great community feel and brand, which is underpinned by its reputation for excellent customer service.
“We’re looking forward to working together to broaden the offering for customers in the North West, whilst also supporting Guy Penn’s growth plans.”
Guy Penn MD, Kierson Owen, added: “In Ethos broking we have found the ideal home. They are culturally aligned with how we have always worked at Guy Penn. In addition to the excellent services we have always enjoyed as a Broker Network Member, we will benefit from being part of a strong well managed Group whose people, focus, facilities and financial backing will be a key driver for us going forward.
“Over the next 12 months we will be looking to continue our growth story via further acquisition and organic growth. We’re excited to see what this next chapter has in store and are looking forward to working with Richard and the team to take Guy Penn to the next level.”
Guy Penn and Co will continue to trade under its own brand.