FAMILY-owned insurance broker Network Insurance has expanded through the acquisition of the Cullum Capital Ventures book of business.

Network Insurance managing director Douglas Goater (pictured) said the deal to take over the clients of CCV, formerly known as Lockton, was an opportunity to cement its position as one of the leading insurance businesses in Guernsey.

‘CCV in Guernsey has been known by a number of different names in the past few years and their customers will have felt a level of uncertainty regarding the future of the business.

‘We are delighted to be able to reassure them and introduce some stability by bringing their business into our expanding company.’

He said Network Insurance’s decision to grow in the current economic climate was an expression of confidence in the firm’s abilities.

‘As a company we are ambitious and we believe that this is not the time to be standing still.

‘We have always recognised that customers want personal service from people who understand who they are and how they live, rather than from a call centre on the other side of the world.

‘We believe that CCV customers will be very pleased with the levels of personal service and expertise that we can offer and will take advantage of our ability to give expert advice on important financial issues, which is so important at this time.’

• In the takeover, four members of staff are expected to join Network Insurance from CCV while three will not come across, including one employee who is retiring and another who has opted for a career change.