Insurance firm sold after 50 years

SME Insurance Services' joint managing directors Jason Gandy and Roger Snowden have bought the Sheffield-based national insurance brokers from brothers Michael and Peter Shield, whose father founded the firm 50 years ago.
By The Newsroom
Published 4th Oct 2007, 12:51 BST
Updated 8th Oct 2007, 09:34 BST

Jason and Roger joined SME Insurance Services (SMEi) when acquired competitors One Direct, where they were directors and shareholders.

Over the last four years SMEi has recorded a tenfold increase in turnover and completed a number of acquisitions.

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Retiring chairman Michael Shield will be retained as a consultant to support a small number of commercial clients.

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"Our father Bryan was a stickler for accuracy and completeness. We believe he would have smiled at the fact that we are selling out our interests in the general insurance business almost 50 years to the day from its establishment," said Michael.

"We wish Jason and Roger and their staff all good fortune in taking the business forward."

The brothers will continue to run SME Financial Services as a separate company, with co-director Janette Town, and Shield Estates UK, from their base in Ecclesfield.

Roger Dyson, partner at commercial law firm HLW acted for Michael and Peter Shield.

Related topics:Sheffield