Swinton deal bolsters its position as UK's largest high street broker

Swinton has cemented its position as the largest high street broker in the UK with the purchase of Equity Insurance Brokers. The deal was predicted by Insurance Age online.

The purchase of 91 branches for £50m is part of Insurance Australia Group's disposal of its "mass market distribution business", which includes the sale of Hastings and Advantage to the existing management.

Patrick Smith, the chief executive of Swinton, reassured the market that the deal would not result in any job losses.


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