Willis Insurance and Risk Management (Willis IRM) has acquired Hale Kavanagh, a Leeds-based insurance brokerage company.
Hale Kavanagh started its operation in 2011. It offers general insurance broking services through 10 staff in Leeds office.
Under the terms of the agreemewnt, Hale Kavanagh Insurance Brokers will start operating under the 40-year-old Kennett brand.
Commenting on the deal, Willis IRM Group managing director Richard Willis said: “We’re very excited to be furthering our business outside Northern Ireland with the acquisition of Hale Kavanagh Insurance Brokers.
“Over the last four years, our firm has grown significantly with staff numbers trebling during that time to 108, something which we are very proud of.
“It also highlights our growing client base across the UK with our Kennett Insurance brand, all of which have access to our full-service offering of risk management, health and safety, financial services and employment law.”
Founded in 1978, Northern Ireland-based Willis IRM acquired Kennett Insurance Brokers in 2017. The latest deal would further boost its business in the Yorkshire region while also increasing gross written premium (GWP) to £10m. The total group GWP stood at £45m.
Willis further that the takeover of Hale Kavanagh is Willis IRM’s strategy to grow the group’s portfolio via the strategic acquisition of like-minded independent brokers
Financial terms of the transaction were not disclosed.