Midlands’ broker completes MBO and targets future proofing
Jon Chance, director of Robert Arthur Davies, has told Insurance Age why he completed the management buyout of the firm and the importance of independent brokers.
Established in 1968 by Robert Arthur Davies, the firm was predominantly a personal lines broker prior to Jon Chance and business partner and equal shareholder Steve Burnham joining at the end of 2020.
The pair brought with them a commercial book of business and grew the GWP in that line from £500,000 to £2.6m.
Although Chance and Burnham were classed as employees, the pair acted as a business within a business, Chance described.
“We hit a tipping point where the main income and profit was coming
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