Close Brothers Premium Finance (CBPF), which helps over three million businesses and customers spread the cost of their insurance premiums, has signed a new five-year contract with Brown & Brown’s UK network business Hedron, to provide financing solutions to Hedron’s partner brokers.
The exclusive deal, which renewed 1 January 2024 will support both personal and commercial lines customers, though the bulk of Hedron’s members are commercial lines brokers.
CBPF, with industry recognised in-depth knowledge, expertise, and responsiveness, is expertly positioned to support broker ambitions. Its accredited training programme helps build and maintain soft, as well as financial development skills. Furthermore, the Focus 360 offering delivers unique data and industry insights to support business growth. Combined, these help brokers truly standout and be more effective in both winning and keeping customers.
The deal will see the team work closely with Hedron and its partner brokers, using these proven tools and techniques, combined with dedicated sales managers and experienced migration teams to support the needs and goals of Hedron and its network.
Elliott Hayes, CBPF Director, Commercial Lines, said: “It’s great that Hedron continues to have confidence in Close Brothers and we look forward to continuing the strong partnership we’ve enjoyed with the Hedron team for another five years.
“CBPF has always been a strong supporter of the network model, and this important deal underscores our ambition to remain the market leader in this space. We already undertake significant volumes of work in the network sector, and our specialist network relationship team, headed up by Karen Johnson, will be working closely with Hedron. We can offer finance solutions and other facilities to all members, and, with the rock-solid support and backing of our bank, we are keen to unlock other ways in which we can work in partnership with the membership base.”
Chris Haggart, chief executive of Hedron, said: “I’ve been impressed by Close Brothers’ commitment to the network throughout the last few years, not least during the acquisition and integration of the business into Brown & Brown during 2021.
“We like the partnership approach that CBPF offers, and feedback from our members has been positive; I look forward to another successful five years doing business with Elliott and his team.”
