Broker market feels consolidation heat as Ecclesiastical confirms deal

Equestrian specialist South Essex Insurance Brokers (SEIB) has been sold to Ecclesiastical Insurance for an undisclosed sum.

The purchase, which was uncovered by Insurance Age last month, will see the formation of a new board, with Ecclesiastical's group chief executive, Michael Tripp, assuming the chairmanship and Barry Fehler, managing director at SEIB, taking up the role of deputy chairman. Ecclesiastical's managing director, Steve Wood, will also sit on the new board.

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