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Acquisition Of Specialist Broker, Hobbs Broking Limited

Acquisition Of Specialist Broker, Hobbs Broking Limited

Acquisition Of Specialist Broker, Hobbs Broking Limited

Posted: 30/07/2019

Tasker Insurance Group (“TIG”) have further progressed their strategic growth plans with the acquisition of another specialist broker Hobbs Broking Limited, trading as Hobbs Associates (“Hobbs”). Hobbs will form part of the specialist retail broking division within their retail business, Tasker Insurance Brokers (“TIB”). Hobbs is TIG’s second acquisition of 2019 with their first being Castle Insurance Consultants Ltd, the specialist tour operator & travel insurance broker in March.

With a focus on the technology and life sciences sector, Hobbs adds depth to TIB’s specialist broking division which already includes the tour operations and travel business, Travel Risk Professionals. The acquisition also extends TIB’s footprint into the Midlands and further strengthens their retail proposition. TIB already has hubs in the North West, East, South East and at TIG’s head office in London. The acquisition, which has received FCA approval, completed on 31 May 2019.

Speaking of the acquisition, CEO, Robert Organ said, “We have known the team at Hobbs for some time and are delighted that they have decided to join us at Tasker Insurance.”  He continued by saying, “We have a clear vision to build our specialist broking capabilities, in the areas of technology, life sciences, PI, financial lines and medical malpractice in addition to extending our regional retail broking footprint. The Hobbs team joining us takes us a step closer to achieving this priority.”

Tony Hobbs, MD of Hobbs commented, “It’s great for us as a team and for the business, that we are joining Taskers, a business that we can trust to allow us to continue to do what we do well – servicing our clients.  We are excited to be able to work with the Tasker team who will bring additional capabilities into our business to help us achieve our growth aspirations.”

The acquisition will see the business and the team remain in its Leicestershire location.

TIG Specialist Broking and Markets Director, Barry Reynolds added “Welcoming such a capable team into the Group is very exciting. With two acquisitions of specialist broking businesses being completed within 6 months, there is real momentum within the business. It’s an exciting place to be.”

TIG continues to grow with a key focus on acquiring broker businesses and attracting talented individuals who are interested in becoming part of a dynamic and empowering business.