15th May 2024

The Broker Investment Group make sixth deal of 2024, taking a strategic investment in Deva Risk Group Ltd


The Broker Investment Group make sixth deal of 2024, taking a strategic investment in Deva Risk Group Ltd

The Broker Investment Group has secured a strategic investment in Deva Risk Group Ltd, an £11m GWP insurance broker headquartered in Chester. Deva Risk Group has 4 offices and 29 staff and is predominately a commercial insurance broker, with a personal lines division.

Deva, named after the Roman word for Chester, was created in 2016 as the holding company for the buyout of Chester-based Daulby Read.

Since then, Deva has acquired a further 4 insurance brokers and aided by organic growth, now has surpassed the £11m GWP mark with plans for further acquisitions in the next few months.

Peter Goddard, Deva Risk Group Ltd

 

Peter Goddard, Director of Deva Risk Group Ltd, comments:

“I’m delighted Deva Risk Group are partnering with The Broker Investment Group, it is the perfect strategic alliance and will help facilitate the next step in our growth journey.

“As many independent brokers continue to be acquired by much larger groups and re-branded, we believe there is a gap in the market that our business can fill. We will remain steadfast in our business ethos of community broking and our acquisitions will remain at the heart of their community, a vision I know that TBIG share with us.

Deva has ambitious growth plans and have a number of acquisitions in the pipeline, we look forward to announcing these deals in the coming months.”

Dave Clapp, CEO The Broker Investment Group, comments:

“This is a significant strategic investment and everyone at TBIG are delighted to welcome Deva as a new

partner. They are a superbly run business with a great team of people, who share best practice across their offices to enhance their overall service.

We have been impressed with both Deva’s growth to date and their future plans and look forward to joining them on their continued journey. We warmly welcome all their team to what we believe will be a hugely successful partnership.”

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