County Insurance Group, the acquisitive insurance broker is eyeing further expansion after securing a new funding package from Clydesdale Bank.
County, which employs 170 staff in its 12 offices across North West England, offers intermediary services primarily to business clients across a variety of different classes. Since establishing the business in 2003, the group have made a number of acquisitions and more recently in 2014 saw Minority Venture Partnership take a shareholding in the group.
The group became a Clydesdale Bank customer after appointing Integritas Financial Solutions, the Commercial Finance Broker, that specialises in the insurance intermediary space, as advisors in a banking tender process.
Dave Clapp, County Group’s CEO, said: “We are pleased to have Clydesdale Bank on board as our new banking partner. We are working to a very focused plan which means growing our business to double the size over the next five years and we are delighted that Clydesdale Bank will be partnering with us on this journey.”
County provides services to many sectors including taxi companies. It currently manages GWP (gross written premium) in excess of £40 million, across a portfolio of more than 40,000 clients.
Martin White of Integritas Financial Solutions added: “We are delighted to have helped County Group find their new banking partner. Clydesdale Bank has presented a flexible scheme which gives County certainty of funding for future acquisitions."
Paul Hambrook, Head of Insurance Sector at Clydesdale Bank’s business and private banking centre in London, said: “We are very pleased to complete another insurance broker refinance at Clydesdale Bank.
“We have developed some real momentum in the insurance broker sector and have further deals completing in the coming months. County has a defined growth strategy and we are pleased to be chosen as their banking partner to assist them in delivering their future plans.”