Wiltshire insurance broker acquired by national business
A firm which offers insurance services across the South West has been acquired by a national firm.
Ardonagh Advisory has acquired independent broker Sorvio Insurance.
Sorvio is the latest in a recent run of acquisitions to join the Advisory platform and wider Ardonagh Group, as the business continues to grow its presence across the UK.
Last month Ardonagh welcomed PB Curran, AMS Insurance Solutions and Sentinel Insurance Solutions to its growing portfolio of businesses, which followed the earlier addition of Pace Ward and the announcement that it has agreed to acquire Stanhope Cooper and Renovation Underwriting.
As a longstanding regional broker with more than 30 years’ experience, Sorvio has stable and deep-rooted relationships with both its clients and insurer partners.
The business is based in Salisbury, where it serves its client-base of SME businesses.
On completion, Sorvio will join Ethos Broking, where it will support Ethos’ expansion across the South West, providing a platform to further its geographic reach.
Sorvio was acquired by current owners and directors Paul Hodgkinson and Ian Spalding in 2006, who have grown the business, establishing its reputation as a market leading broker in the area.
Ian and Paul will continue to run the business alongside Richard Tuplin, who leads Ethos Broking as part of his role as chief executive of Advisory Insurance Brokers Limited (AIBL).
Richard Tuplin said: “This is a great opportunity for Ethos Broking to further its geographic reach with a high-quality regional broking business that is well-respected in its local area.
“Sorvio is a fantastic business that has flourished over the years thanks to its expert team and their focus on providing an exceptional service for clients.
“We’re very excited to welcome Ian, Paul and the team to the business and look forward to collaborating on future opportunities for growth in the region.”
Paul Hodgkinson said: “Joining Ardonagh Advisory represents an enormous opportunity for us to develop Sorvio by becoming part of a larger proposition.
“Our team of experts will continue to provide the outstanding service they are well-known for, supported by a business that shares our values and dedication to client service.
“We’re very excited for the future and look forward to experiencing the many benefits that I know will come from being part of the Ardonagh Advisory platform.”
