Lycetts strengthens its reach with acquisition of Cheviot Insurance Services

We are delighted to announce that we have acquired Newcastle-based Cheviot Insurance Services – a strategic move that bolsters our commitment to delivering exceptional client service to the commercial sector in the North East and nationwide.

Cheviot, renowned for its personalised approach and strong local community ties, aligns seamlessly with the Lycetts ethos of family values and relationship-driven service.

John Baty, Helen Hornshaw and Joel Marks will all join our team from Cheviot and will be based within our Newcastle office.

Ian Barclay, Chief Executive of Lycetts, welcomed the move, emphasising the value Cheviot’s experienced team brings.

“This acquisition represents another exciting step in our growth strategy, enabling us to build on Cheviot’s outstanding reputation and deep community ties,” he said.

“We will be leveraging John Baty’s extensive expertise with complex property and cyber risks, while Joel Marks brings a wealth of family office and fund management expertise, including a £17 billion Scottish Widows fund.

“As we integrate Cheviot’s expertise into our wider offering, this acquisition enhances our ability to combine the strengths of our regional offices – delivering personal, local service through small, dedicated teams – with the experience of our centralised commercial insurance professionals based at our Newcastle head office.”

John Baty, Managing Director of Cheviot, commented: “Having worked in the Newcastle insurance market for the past 36 years, I have known Lycetts for a long time and have always valued the way they do business.  This is a perfect fit for Cheviot and our clients.”

Founder and Director of Cheviot Charlie Hoult, who will remain with Lycetts in an ambassadorial role, added: “Cheviot has always prided itself on building lasting relationships with clients and we admire Lycetts’ commitment to the same values.

“Joining forces ensures our clients continue to receive the same high-quality service, now supported by the broader resources of Lycetts.”

Hoult is a 2024 Champion of Entrepreneurship award-winner and also Executive Chair of Opencast, a scale-up tech firm.

With the acquisition of Cheviot, we are poised to deliver even greater value to clients, while continuing to make a meaningful difference in communities nationwide.

As part of the Benefact Group, a philanthropic organisation distributing all available profits to charitable causes, we combine business success with social impact, contributing to a £220 million milestone in charitable giving over the past decade.