Oval Group takes another Scottish firm

May 13 2008

Aberdeen based Independent Insurance Brokers acquired for undisclosed sum

Fast expanding Oval Group has acquired Aberdeen Independent Insurance Brokers for an undisclosed sum.

Independent Insurance Brokers was formed in 1991 by Tom Christie who was joined in 1993 by Iain Hay.

They will both join Oval Insurance Broking with their team of 11 staff.  

IIB is a general commercial insurance business advising both local and international clients, with a specialism in oil, gas and renewables.

Paul Kerry, regional managing director of Oval in Scotland, said" “The acquisition of Independent Insurance Brokers is an incredibly positive addition to our presence in Aberdeen and our offering in Scotland as a whole. 

"We are extremely pleased that Oval is continuing to invest and grow in Scotland and it is tremendous that a company with the experience and expertise of IIB is joining our team.”
 
Since the Oval group was established in October 2003, it has created a major national business by acquiring regional brokers and financial services companies.

To date, twenty nine companies have joined the group and  turnover has grown to over £60 million with more than 1000 employees across the UK.