News

Seventeen Group has acquired Plymouth based Walker Persson & Spargo Ltd effective from 28th June 2019 for an undisclosed sum. WPS was established in 1968 and are a leading independent broker in the South West. They are Chartered Insurance Brokers and members of the UNA Broking Alliance. In addition to handling corporate and personal lines business on both a regional and national level, WPS handles schemes and affinity based clients across a number of sectors.

The business employs over 40 staff and generate a Gross Written Premium of £17million. WPS is led by Directors Steve Rowlands, Steve Harvey and Colin Watts, all of whom are remaining with the business along with the wider WPS team. The business will continue to trade as WPS from the existing Plymouth premises.

Speaking on behalf of WPS, Steve Rowlands Managing Director comments: “We are very proud of the business we have built in Plymouth and have received fantastic support from our staff, clients and insurers over the years. It was therefore of paramount importance to us that we identified a purchaser for our business who were committed independent brokers and ambitious to continue our growth plans in the South West. We have known James Hallam and Seventeen Group for many years and are confident that we can offer an exciting future for our clients, staff and trading partners.”

Seventeen Group Chief Executive Officer Paul Anscombe adds: “WPS are a highly respected firm whom we know well. I have been truly impressed by their desire throughout our negotiations to grow their presence in the South West and to maintain their focus on client service. There are significant opportunities for Seventeen Group to develop our specialist sectors into the South West and to invest in the existing strengths of WPS. The joint opportunities will be in broking, underwriting and risk management.

Seventeen Group were supported by Beechbrook Capital in this acquisition. Beechbrook Capital is a specialist lender providing innovative and flexible financing solutions to support fast growing SMEs across northern Europe.

Tim Johnston, Investor Director at Beechbrook comments: “We have thoroughly enjoyed working with Seventeen Group and we are delighted to be the new funding partner for this market-leading business. We very much look forward to supporting the group with its further growth plans over the coming years.”

James Hallam Limited, the broking subsidiary of Seventeen Group, has announced the appointment of Roy Standish as Director of Partnerships with effect from 22nd July.

The role aims to strategically direct James Hallam’s Partnership programme for Authorised Representatives (‘AR’s’) and to develop new Partnership opportunities for the future.

Seventeen Group CEO Paul Anscombe comments: “We see a growing demand for entrepreneurial insurance professionals to create new ventures and to take control of their futures. With the UK broking market undergoing an unprecedented level of consolidation, there is a significant opportunity to build capital value in insurance with the support of James Hallam, which is a long established UK broker committed to independence. Roy is uniquely placed to develop Partnerships given his extensive knowledge of the UK broker market.”

Roy Standish has spent his entire 30 year plus career with Eagle Star/Zurich, having latterly been Sales & Distribution Director. Speaking about his appointment Roy adds: “After a long and happy career at Zurich I was determined to plot a new course in insurance which both used my skills and offered the prospect of enjoyment in supporting a wide variety of business opportunities within the insurance sector. I have known Seventeen Group for many years and so it is a very natural fit for me. I know that a number of high calibre insurance individuals and firms are seeking greater support to achieve their objectives and we will be well placed to assist them.”

Seventeen Group has announced that, effective 18th June 2019, it has acquired Graybrook Insurance Brokers Limited based in Essex for an undisclosed sum.

Formed in 1972 by founder Bill Hulse, Graybrook is a specialist medical malpractice and Professional Indemnity broker focusing on schemes for clinical organisations and associations.

Seventeen Group is a privately owned insurance Group which includes James Hallam insurance brokers, Touchstone Underwriting and 4Sight Risk Management. As part of James Hallam is a specialist team within the healthcare sector, ‘Pro Med’, headed by Charly Winder. Graybrook and ProMed will integrate to create a leading medical sector insurance team within the UK and international market.

Commenting on the deal, Bill Hulse highlights that “joining forces with James Hallam was a natural step for Graybrook given the many similarities between the two organisations. We care passionately about our clients and are now able to offer a broader range of services as part of James Hallam and Seventeen Group. All of my team will remain with the business and we look forward to working with ProMed and the wider James Hallam team in the coming years.

Seventeen Group Chief Executive Officer Paul Anscombe adds “We are delighted to welcome Graybrook into our Group. It is rare to see the level of knowledge and care that Bill and the team have achieved and the acquisition gives us a wonderful opportunity to bring together two highly experienced medical malpractice teams under one roof”.

Seventeen Group were supported by Beechbrook Capital in this acquisition.

Beechbrook Capital is a specialist lender providing innovative and flexible financing solutions to support fast growing SMEs across northern Europe. Tim Johnston, Investor Director at Beechbrook comments: “We have thoroughly enjoyed working with Seventeen Group and we are delighted to be the new funding partner for this market-leading business. We very much look forward to supporting the group with its further growth plans over the coming years.”

James Hallam, Watford’s very own specialist insurance brokers is delighted to announce that its nominated charity, the Watford Workshop has been awarded a fantastic grant of £25,000 by the Aviva Community Fund.

The cheque was presented to them by Phil Bayles Managing Director Aviva Intermediaries and Will Greenwood OBE.

The Aviva Community Fund is designed to help and improve the delivery of locally based community projects through a series of grants with this year’s total prize pot totalling £261,000.

This year, over 180,000 votes were cast to identify projects that could best benefit their local communities and in total, 81 finalists were shortlisted to receive grants of between £500 – £25,000.

The Watford Workshop was nominated by James Hallam’s’ Watford Office and was one of just three national finalists to receive the highest award of £25,000.

“It was important for us to nominate a community project that reflected our business ethos” says Paul Trainor, Divisional Director of James Hallam. “As soon as you walk through the door you can see how the Workshop is transforming lives and making a real difference to our local community.

The Watford Workshop is designed to increase the self-confidence and social skills of adults with learning difficulties and disabilities. Real work experience and skills training helps to improve both their self-esteem and qualifications and as such improve their opportunities for mainstream employment.

What will the grant be used for?

The Watford Workshop is a hugely valuable local community asset but like similar community projects is heavily oversubscribed. Its ability to deliver its program and meet demand is severely restricted by the limitations of its building. The grant will go towards the building of a brand new mezzanine floor, thereby increasing the Workshop’s capacity and ability to help even more local people.

“The awarding of this grant is a really significant moment for the Workshop” say Linda McIntyre CEO of the Watford Workshop.

“We would like to thank the Aviva Community Fund for this most generous grant and of course James Hallam’s nomination and continued support”.

James Hallam have sponsored 3 ‘Tailor TV’ events over the last 6 months, which are run by a London tailor called Dress 2 Kill. They are an evening of drinks and a Q&A with notable guests, which is governed by Alex Payne, from Sky Sports and the Influence Room. The guests we have had so far are; Jonny Bairstow (England Cricketer), Eddie Jones (England Rugby Head Coach), Kyle Sinckler (England & British and Irish Lions Rugby Player), Jack Clifford (England & Harlequins Rugby Player) and Charlie Brake and Dr Alex from Love Island.

TailorTV is the official media channel of the exclusive event, providing behind the scenes access to leading International sports stars and celebrities. Unscripted, uncut and unrehearsed, TailorTV events take place throughout the year in front of a private audience in Central London.

Make sure you subscribe to TailorTV to keep up to date with all the great content from the events. Click here to view their YouTube channel

Our James Hallam Watford branch have been busy with fundraisers the past week.

They kicked off with a sponsored walk last Thursday, for Watford Sheltered Workshop. “It was a 2.5 mile walk around the town, with service users and volunteers of the Workshop.. ending in the pub!”

Next up was a team called ‘The Risk Factor’, which entered into The Big Charity Sports Event, in aid of the WFC Community Sports Trust and Herts Inclusive Theatre. Despite dismal weather conditions and some equally dismal physical conditions, they came a very solid 2nd place, winning the space hopper race and tug of war rounds.

The last up was the weekend’s Croxfest, which is a local community festival attended by over 8,000 people and where James Hallam were one of the many local sponsors. It’s been running for 5 years and aimed at giving upcoming and local bands a festival platform- it’s run by volunteers and as well as supporting local charities, profits are put back into making the event bigger and better the next year.

Seventeen Group announce an increase in revenue from £12,556,884 in 2016 to £16,369,740 in 2017 and a growth in EBITA to from £1.59 million to £2.32 million for the corresponding period.

In terms of the revenue growth of £3.8M approximately £500K related to acquisitions whilst the balance was organic growth across each of the businesses.

Ongoing investment continued during the period which is expected to deliver further growth in 2018 and beyond.

Commenting on the results, Group CEO Paul Anscombe adds “2017 represented a very solid performance by the Group with all three subsidiaries achieving organic growth. The acquisitions made in 2016 and 2017 have integrated exceptionally well and feel very much ‘part of the family’. Seventeen Group is seeing an increasing number of opportunities to grow and we are in an excellent position to capitalise upon this as a long established and completely independent insurance business”.

In 2018 Seventeen Group has completed four further acquisitions:

Complete Insurance Solutions – acquired in February 2018 and based in Dalbeattie

Total Insurance Services – acquired in February 2018 and based in Dalbeattie

Rupert Burgoyne – acquired in February and based in Sussex

Everard Insurance Brokers – acquired July 2018 and based in Kent

In addition to the above acquisitions, James Hallam is launching a new Healthcare & Protection Division in September 2018 and Touchstone Underwriting are continuing their regional expansion in response to growing broker demand for their products.

Our CEO spoke at the BIBA 2018 conference, on a panel session regarding how customers are at the heart of the broker business. The regulator spoke at a panel session on how customers are at the heart of the broker business at the BIBA conference. Adding to this, Paul Anscombe raised concerns around how consolidation was affecting customer service:-

https://www.insuranceage.co.uk/broker/3408316/biba-2018-fca-pledges-perennial-client-money-focus