UNA Alliance

Following the acquisition, Ryans will form part of James Hallam, Seventeen Group’s broking subsidiary, but it will remain within its current Ipswich premises. It will also continue to trade under its existing Ryan Insurance Group brand.

Seventeen Group chief executive Paul Anscombe said: “We are delighted with the acquisition of Ryan’s, a business we have known for a number of years, and are proud to welcome them into our group.

“It is a high quality organisation with a great team and a strong focus on client service. It is also a company which takes its role within the broking community very seriously and actively works to raise professional standards and share good practice”.

Putting people first

Outgoing chairman Ryan added: “For some time, the shareholders have been considering the long-term plan for Ryan’s with an ambition to remain part of an independent brokerage which puts people first.

“When we met Seventeen Group, it was clear that they filled our requirements, so we are pleased that the business will continue with a similar culture, aims and objectives, as well as creating security and new opportunities for the team.”

Formed in 1975, Ryans Insurance Group is a regional broker in the East of England. It employs more than 50 staff and is a top 100 broker in the UK. It handles more than £12m of gross written premium.

Two-thirds of the business is commercial lines and one-third is private clients. Included within the commercial book is a specialist hospitality account and a dedicated SME unit.

Anscombe continued: “The consolidation of the market has accelerated and we see no sign of that changing in the short term. Key for Seventeen Group is to remain a long-term independent broker and so we will continue to seek the right strategic acquisition opportunities to help support this growth alongside our natural organic growth plans.”