It is the third deal for the Ethos-backed broker this year.

Saffron Insurance has completed on the purchase of Essex-based independent broker and Broker Network member, Sharer Chapman.

This latest purchase is Saffron’s fifth acquisition since becoming an Ethos Broking Partner and its third this year.

Established in 1983, Sharer Chapman has grown to become a leading commercial lines broker, with a particular specialism in property owners insurance for landlords.

Ethos detailed in a statement that the brokerage, based in Harlow is owned and run by Ian Sharer, David Chapman and Paul Langford. All will remain with the business in addition to six members of staff.

Following completion, the business will retain its current premises.

Culture
Steve Seekings, Saffron’s MD, commented: “Saffron has gone through a radical phase of growth over the last 12 months but purchasing the right brokerage, that aligns with our culture and complements our offering is imperative to us.

“2019 is set to be our most productive year yet and with the support from Ethos Broking, we have a compelling proposition which is generating interest across the East of England.”

Seekings recently replaced David Beswick whose departure was announced in July this year.

Seekings added: “The team at Sharer Chapman is a well-respected broking firm that has flourished over the years under the leadership of Ian, David and Paul. I’m excited to begin working with the team to expand the client-base further.”

Ethos Broking took a majority stake in Saffron Insurance in 2018 and the broker has since bought Continuum, Grove Insurance, Farmer Insurance and Bridge Insurance.

Broker Network Partners rebranded as Ethos in March this year in order to separate its M&A business from Broker Network.

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