Saffron Insurance has acquired Farmer Insurance Brokers, a Romford-based commercial lines broker, for an undisclosed amount.

Farmer Insurance specialises in fleet, property owners and liability and oversees £2m of gross written premium. It was set up by Derek Farmer in 1999.

The business is a member of Broker Network, a network for independent insurance brokers in the UK.

All 10 employees of Farmer Insurance along with its existing office will be retained.

The latest deal continues the buying spree of East Anglia’s Saffron, which itself was acquired by Broker Network in January last year.

Soon after the takeover, Saffron acquired Grove Insurance Services and Continuum in Hertford. Currently, Saffron has a headcount of 145 and 11 branches.

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Saffron managing director David Beswick said: “I’m thrilled to welcome Derek and his team to Saffron. The team have fantastic broking knowledge and a strong customer base which will enhance our overall offering.

“To have acquired three businesses within a 12 month period is a great achievement for Saffron and I look forward to moving into 2019 with a strong pipeline of further opportunities.”