Brown & Brown acquires Berkeley Insurance

The European branch of American insurance broker Brown & Brown has completed the acquisition of Leicester broker Berkeley Insurance Group. It is the first broking acquisition by Brown & Brown in the UK since it changed its name from Global Risk Partners last month.

Berkeley is one the UK’s biggest independent insurance brokers, and alongside its head office in Leicester has offices in Birmingham, London and Edinburgh.

Its chairman and chief executive Tim Maxted led a management buyout in 2008 and it looks after high-quality mid-market customers.

It has particular specialisms in commercial property and construction, financial risks, cyber, private client and corporate client insurance, each of which has a dedicated team.

Its chairman and chief executive Tim Maxted led a management buyout in 2008 and it looks after high-quality mid-market customers.

It has particular specialisms in commercial property and construction, financial risks, cyber, private client and corporate client insurance, each of which has a dedicated team.

Mr Maxted said: “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.”

Brown & Brown Europe chief executive Mike Bruce 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.

“Berkeley joining the Brown & Brown team is a testament to our ambition and appetite for growth.