Lime Street Insurance Brokers Limited (“Lime Street”), working in conjunction with the Senator Group, has acquired the Lloyds Broker HBA Limited, subject to FCA approval.
Lime Street was established with a view to providing a solution to the succession issues inherent in many Lloyd’s brokers where there is a disparity between the relative distribution of ownership and production. The Lime Street model provides a turnkey solution to individuals in Lloyd’s brokers who wish to exercise greater autonomy over their account in an environment that frees them to concentrate on the production and placement of business.
Paul Nugent, Lime Street’s CEO believes the acquisition of HBA provides a template for how shareholders may exit the business whilst enfranchising their producing brokers, free from the potentially onerous drag imposed on the business by legacy business.
The acquisition of HBA by Lime Street provides Broker Direct’s network of 800 regional brokers with continuing access to the London market for the placement of a wide variety of corporate and speciality insurances.
Paul Nugent Lime Street Insurance Brokers Limited 020 7265 7400