Independent Bristol brokers Venture Insurance have purchased neighbouring firm Poole Martin in a move that will see the company placing premiums of £13 million per year.
The coming together of the two firms will see staff numbers at Venture Insurance rise to 22 and comes shortly after the company moved in- to new offices on the corner of Whiteladies Road and Burlington Road.
Poole Martin has been trading since the early 1970's and, currently based in Elmdale Road, its directors Andrew Bollen and Richard Evans have been seeking long-term continuity for their clients and staff.
Having helped the directors of Venture Insurance to set up the business when it launched in 2011, Mr Bollen and Mr Evans said they were delighted about the acquisition and the move to new offices.
The incorporation is due to take place at the end of January and the duo also assured the existing Poole Martin client base of a seamless transition that would see business continuing as usual.
For Venture Insurance, managing director Simon James said the move would further strengthen his company's growing reputation with major insurers who are increasingly supportive of independent brokers.
He said: “We have had a great relationship with Andrew and Richard at Poole Martin for a number of years and there has always been a lot of synergy between our two companies.
“We are both independent, we share each other’s values and the incorporation of their business with ours is the ideal way for us to strengthen.
“The large insurers are actively supporting and encouraging small independent brokers like ours to set up and do business with them. So we are extremely confident about the future of Venture Insurance and its longevity, especially with the added influence of Poole Martin coming into our growing company.”
On behalf of Poole Martin, Mr Evans said: “This is an excellent move for Poole Martin, its staff and its client base who, apart from the practicality of the office move, will notice little or no difference in the way our business is done on a day to day basis. Venture Insurance was formed by experienced individuals, who wished to provide the level of service and care associated with in- dependent insurance brokers.
“At the time they formed, they approached Poole Martin, seeking our help to begin their trading and we were delighted to help. We became professionally close and were impressed with the way they operated, in keeping and in line with our own standards and expectations.”