Equity acquires Somerset broker

Equity Insurance Group has purchased Bridgwater broker, Squibbs Insurance Consultants - its eighteenth regional acquisition in just 12 months.

The undisclosed value deal has increased the group's UK branch network to almost 80. Mike Hutton, Equity's acquisition director, said the comapny was "well on target to achieve an anticipated 100 branches by the end of 2008."

Squibbs Insurance Consultants was owned by John Culleton who was a junior partner in the company, which acquired it in 1988; five years later he bought out the other partners and grew the business through a number of local acquisitions. It was originally established in the