by business editor Trevor Sturgess

An insurance broker is underlining its growth policy by snapping up a chunk of work from another firm.

Woodstock Insurance Brokers, based in Maidstone, has purchased a personal lines book of business from Clear Insurance Management. It is the 30th acquisition in Woodstock’s 10-year history.

It provides Woodstock with a book of risk spread across household and motor insurance markets, and more than 1,200 individual policies.

Woodstock employs 20 staff at its headquarters on 20/20 Business Park in Allington. The firm specialises in home, motor and business insurance, and providing financial advice on income protection, redundancy cover, pensions and annuities.

The company said the latest purchase highlighted its ongoing interest in buying part disposals of businesses as well as full acquisitions.

David Hadden, Woodstock’s general manager, said: “We are constantly striving to improve our offering to customers, and this acquisition will strengthen our portfolio and service. Over the last year we have concentrated on organic growth, however this transaction signals our intent to continue to grow Woodstock through obtaining part disposals of personal lines books.”

Gary O’Donnell, deputy chief executive at Clear Insurance Management, added: “Woodstock has consistently proven to be a valuable business partner. We are confident that our clients will appreciate the benefits of the wider offering they can provide.”

Woodstock Insurance Brokers was founded 10 years ago. Endsleigh Insurance Services took a controlling interest in July 2009.