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Scottish brokers Greenwood, Moreland Insurance complete merger

IBR Staff Writer Published 05 June 2017

Greenwood Insurances has completed its acquisition of Moreland Insurance Brokers for an undisclosed price.

The combined entity formed by the merger of the two Scottish insurance brokers came into effect from the start of this month.

Hamilton-based Moreland Insurance Brokers has become the trading style of Stepps-headquartered Greenwood Insurance Consultants following the completion of their transaction.

Greenwoods has now become the sole regulated entity post merger.

Despite the merger, staff of both the companies will remain in their existing roles at the Stepps and Hamilton offices respectively.

The merger proposal was executed by both the firms to strengthen their proposition to all stakeholders including staff, insurer partners and customers.

The values and business profile of both the companies will compliment with each other. The merger enables the combined entity to leverage on the strengths of both Greenwoods and Morelands going forward.

Greenwood Insurances director Andrew Weir said: “We already share many insurer relationships and operate in similar geographic and commercial market sectors; our aim is that this merger will enable us to implement an ambitious and focused development strategy in the medium to long term.

“This new chapter will see us become a leading independent insurance broker in Scotland and will strengthen our proposition in key sectors including Scottish SMEs/Small Corporate Businesses and Charities/Not For Profits across the UK.”

Established in 1964, Moreland Insurance Brokers has been providing the Scottish business fraternity with insurance advice, service and premiums. Its new parent company, Greenwood Insurances offers insurance services for commercial, personal, church and charity, not-for-profit and equine sectors.

Image: Moreland Insurance has merged into Greenwood Insurances. Photo: courtesy of adamr/ FreeDigitalPhotos.net.