December 2004

Insurance business expands its portfolio

The Penrith team - Left to right, Kirsty Glencross, Claire Bluck, Julia Carlson, Richard Utting, Borderway Insurance Brokers managing director Philip Pagin, Shaun Armstrong, Borderway Insurance Brokers' senior broker Sonia Hamilton, Valerie Evans and Joan Warwick.

Borderway Insurance Brokers has further expanded its business in the north west with the acquisition of the insurance portfolio of Richard Utting Insurance Services (RUIS) in Penrith.

Through the acquisition, the subsidiary of the Carlisle-based H&H Group expands its premium income by 25 per cent, re-inforcing the company's growth plans of becoming the largest specialist agricultural insurance broker in the north of England and Scotland.

This latest addition to Borderway Insurance Brokers' portfolio follows the acquisition of the farm insurance business of Halifax Bank of Scotland (HBOS) in July 2004 which saw the Carlisle company grow by in excess of 20 per cent.

The acquisition of RUIS which is from January 1, 2005, will offer a complete range of products to RUIS' existing agricultural, commercial and personal insurance clients.

The office in Penrith's Little Dockray will continue to be run with the current six members of staff and Richard Utting, who will be retained by Borderway Insurance Brokers as a consultant.
" We're delighted to be acquiring a business which has a lot of similarities to our own with a strong bias towards agricultural insurance," said Andrew Cuthbertson, Borderway’s business development director.

" The integration of the operations will enable us to further grow our business within our overall mission of becoming the largest agricultural insurance broker in the north of England and Scotland.
" We are planning that the transition will be seamless for RUIS clients who are located mainly in and around Penrith.

" The Penrith office will provide a base not only for Borderway Insurance Brokers but also it will be of benefit to the H&H Group's other operating companies.
Richard Utting said: “I look forward to working with Borderway Insurance Brokers and continuing my working relationship with my farmer-clients, many of whom I have dealt with for nearly 30 years.

“ I believe that Borderway Insurance Brokers will continue to provide an excellent service which both myself and my staff have hopefully provided over the last 14 years.”

Borderway Insurance Brokers has received authorisation from the Financial Services Authority in compliance with new government legislation involving the selling of insurance by agents. The company, which has six fully trained field representatives, is now firmly established as a leading provider of competitive farm and motor insurance. The fact that they have a choice of six farm schemes further enhances this position. With planned further expansion across the north of England and Scotland, the company ultimately intends to offer its own branded farm scheme and risk management service.

In May 2004, Borderway Insurance Brokers secured a relationship with leading farm insurance specialists FarmWeb which has enjoyed year on year growth since its establishment in 1997 with current sales grossing over £30 million.

FarmWeb trades exclusively through 70 independent brokers across the UK.

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