Reich makes first buy for years with LJM Insurance Brokers deal
Takeover adds £4m of gross written premium to the group.
Reich Group has bought Stockport-based LJM Insurance Brokers, Insurance Age can reveal.
The purchase for an undisclosed sum will add £4m of gross written premium to Reich taking it over the £80m barrier as it targets £100m by 2022.
The deal completed on 28 October and the three partners and four staff will move to Reich’s office in Manchester on 12 November bringing the group headcount to 127.
Values
Chief executive officer Simon Taylor explained that the acquisition has been funded from cash
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