Jobs saved as expanding national firm acquires Liverpool’s Exchange Insurance Services

Exchange Insurance Services, a commercial insurance broker based in Liverpool city centre, has been acquired by Bluefin Insurance.

The deal, which follows a string of acquisitions completed by Bluefin in the North and Scotland, will see the firm expand its regional footprint with a second Liverpool office.

All 19 members of staff and managing director Peter Gradwell have been retained following the transaction.

MD Peter said: “I am delighted to have completed the deal to join Bluefin.

“We have over 40 years of experience as an independent commercial broker in Merseyside and are excited to now join a sizeable broker with the right influence and understanding of the markets and clients we deal with.”

He added: “Throughout the sale process we have been thoroughly impressed by the efforts of everyone at Bluefin and the synergy of values is what attracted us to them.”

Founded in 1972, Exchange Insurance Services is based in Liverpool’s historic Exchange Flags building.

So far this year, Bluefin has acquired North Yorkshire-based Alverton Insurance Brokers and Scottish firms Wilbourn Insurance Services and Grampian Insurance. The company operates a UK-wide network of more than 40 offices.

Bluefin’s CEO, Robert Organ, commented: “It is a pleasure for us to continue our expansion and presence in an important city like Liverpool.

“Our regional footprint is an important part of Bluefin’s DNA and we are committed to helping our new colleagues settle in quickly with minimal disruption to clients.”

Robert continued: “We continue to look for strategically important brokers of all sizes to join us in providing specialist insurance cover to clients nationwide.”

North West law firm DTM Legal advised Exchange Insurance Services’ shareholders during the deal.

Ed Barnes, DTM Legal’s head of corporate and commercial, said of the transaction: “We were delighted to be appointed by the owners of Exchange Insurance Services to support on the transaction and it has been a pleasure working with them.

“Bluefin Insurance is one of the most well-respected brokers in the market with a growing presence in the region.”

Speaking further, Ed said the sale marks “a new chapter” for Bluefin, adding: “[It] is one of several insurance service sector transactions our team has dealt with in recent weeks.”

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