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Business & Economy

Insurance broker Gallagher expands with Stockton-based Erimus Group deal

An insurance broker has bolstered its North East presence after buying a fellow market operator.

Gallagher has acquired Stockton’s Erimus Group Limited.

Bosses say the deal means Gallagher – which already runs a Newcastle office – is now overseeing “one of the largest insurance brokers in the region”.

They add the new venture will support firms across a number of risk management and insurance areas, such as business interruption, commercial property, cybersecurity and employers’ liability insurance.

Paul Davison, group chief executive, and Lee Elgie, managing director, will remain in their present roles at Erimus, and continue to be supported by the company’s existing Teesside team.

Erimus was founded in 1986, employs about 40 staff and services around 2500 clients.

Paul said: “We are very pleased to join forces with Gallagher and become part of one of the UK’s largest insurance brokers with ambitious growth aspirations in the North East.

“This development is great news for clients as they will retain the personal service they are used to from the team that they know, and can additionally take advantage of Gallagher’s scale, product and service offering.”

Elliot Miller, Gallagher regional managing director for Scotland and the North East, added: “This business is a great fit with us.

“The region is a hub of major investment and there are extensive growth opportunities for businesses based here.

“I am confident our combined teams, under the leadership of Frank Firth in Newcastle and Paul in Teesside, will offer businesses in the North East an unbeatable mixture of insurance expertise and local knowledge.”