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Acquisition Announcement

Sande Investments Limited, the parent company of Lime Street Insurance Brokers Limited (“Lime Street”) has acquired Houlder Insurance Services Limited (“Houlder”), a broker Lloyd’s.

Paul Nugent, Lime Street’s CEO said “In purchasing Houlder we recognise that, not has Lime Street been afforded the opportunity to acquire a mature book of marine and specialty business, but also one of the oldest, established Lloyd’s broking firms with a global footprint.”

Dr Ma, director of Houlder’s parent company, said “China Merchants Holdings (UK) Limited, expressed a desire to exit London Market insurance broking and to find a buyer that is equally committed to delivering professional broking services to our long standing clients and staff. We believe that Lime Street will do just that. We are also pleased that the Houlder name will continue to be used in the marine and product recall markets where it has been synonymous with the Lloyds market for so many years.”

April 2014 Press Release

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.

Enquiries:

Paul Nugent Lime Street Insurance Brokers Limited 020 7265 7400