A fledgling Glasgow insurance firm has acquired a significant client portfolio and a new broker team to launch its offering in Edinburgh.
Blackford Insurance, which specialises in commercial risk, has kickstarted its ambitious growth plans by taking on a customer book of TL Dallas, with a collective premium value of more than £3 million.
The acquisition marks a key expansion for the Glasgow broker, which was established earlier this year.
The business this week launched an office in the Scottish capital to house its new broker team, which will manage the portfolio of around 100 clients.
Blackford will take on Stephen Randall, Monika Hübsch, Alan Grant and Laura Scougall, who bring more than 95 years of combined experience.
As part of ambitious growth plans, the company aims to recruit an additional 18 people over the next three years.
The firm, backed by privately owned broker James Hallam, also has a presence in London.
TL Dallas continues to have a team of six in Edinburgh and maintains a "large portfolio of work" across the commercial and private client sectors.
Managing director Tom Aldridge, who previously launched the Glasgow office of Central Insurance before its sale to Marsh in 2014, founded Blackford with the goal of providing a “values-led” advisory service.
He said: “We continue to see consolidation in the Scottish insurance broker landscape which can bring frustration for clients who are seeking a long-term broker relationship with a people-first, friendly service offering.
“A further consequence of recent acquisitions is a growing number of disengaged quality broking staff.
“Blackford was launched with the intention of providing a truly customer-focused broker which communicates with clients in a fresh and uncomplicated manner.”