Hamilton Fraser, part of Global Risk Partners (GRP), has acquired Edmondsons Limited (Edmondsons), a London-based commercial lines insurance broker specialising in property and legal indemnity insurance.
Based in the City, the business, which has been trading since 1995, is owned by Peter Hyne and his wife Susan, who bought the business from founder Gloria Edmondson in 1999.
Although predominantly commercial, Edmondsons also has a successful personal lines high net worth book.
Edmondsons will join Hamilton Fraser, which GRP acquired in February 2022, and form part of the broker’s growing commercial portfolio. Hamilton Fraser is a market-leading insurance broker and provider of risk management solutions to the Private Rented sector and also one of the leading UK insurance providers to the cosmetic and aesthetic practitioners industry.
Eddie Hooker, CEO at Hamilton Fraser, said: “I’ve worked with Peter previously, so it’s great that we’re joining forces again.”
“He and his business are highly respected, and Edmondsons will be an excellent fit for our commercial portfolio. As well as building out the commercial book, we fully intend to support further growth in the high net worth book too.”
He said that all Edmondsons employees will move across and continue to work with the business as part of Hamilton Fraser.
This is the first acquisition completed as part of Borehamwood-based Hamilton Fraser since they became part of GRP.
Commenting on the deal, Peter Hyne said: “We have come a long way since we began trading in 1995, and we’re very proud of the business we have built.”
“We have a great relationship with our customers, many of whom have been with us for decades. I am confident they will be even better served as part of a larger group, with the additional firepower provided by Hamilton Fraser / GRP, as part of Brown & Brown.”
The acquisition has received regulatory approval, and the consideration is undisclosed.
About Global Risk Partners
GRP operates retail broking, specialist MGA, network and Lloyd’s businesses, enabling the business to serve the growing insurance and risk management needs of its clients. GRP is an operating unit of Brown & Brown, Inc.’s Retail segment.
About Brown & Brown, Inc.
Brown & Brown, Inc. (NYSE: BRO) is a leading insurance brokerage firm, delivering risk management solutions to individuals and businesses since 1939. With more than 14,500 teammates in 450+ locations worldwide, we are committed to providing innovative strategies to help protect what our customers value most. For more information or to find an office near you, please visit bbrown.com.
This press release may contain certain statements relating to future results which are forward-looking statements, including those associated with this acquisition. These statements are not historical facts but instead represent only Brown & Brown’s current belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown’s control. It is possible that Brown & Brown’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown’s financial results and condition, as well as its other achievements, is contained in Brown & Brown’s filings with the Securities and Exchange Commission. Such factors include those factors relevant to Brown & Brown’s consummation and integration of the announced acquisition, including any matters analyzed in the due diligence process, and material adverse changes in the business and financial condition of the seller, the buyer, or both, and their respective customers. All forward-looking statements made herein are made only as of the date of this release, and Brown & Brown does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which Brown & Brown hereafter becomes aware.
Information: Ben Welsh 07568 382040