Newmarket based independent insurance broker Yutree Insurance has completed a management buyout (MBO), securing its future as a locally run, independent business with strong roots in Newmarket, Cambridge and now, Norwich.
The buyout sees long-standing directors Laura Hancock and Kevin Hancock take full ownership of the Chartered insurance broker and underwriting agency, ensuring the business remains independently owned and committed to its people, its clients and its local communities.
The announcement comes alongside the planning for Yutree’s new office in Norwich, with plans to grow the team and build on their existing client base in Norfolk and the wider East of England.
‘Excited to return to Norfolk’
“We’re excited to return to Norfolk,” said Kevin Hancock. “Both Laura and I have strong personal ties to the county and we already support a number of clients and community initiatives in the area. Our investment in Norwich is a vote of confidence in the East of England as a business hub – and a sign of our long-term commitment to growing in and with the local economy.”
The Norwich office marks a major step in Yutree’s expansion, with local hires already underway. The team will be working with businesses across a wide range of local sectors including construction, tourism, creative industries and professional services.
“With two of our founding shareholders stepping away, we had a big decision to make,” said Laura Hancock. “Rather than selling to a consolidator, we chose to stay independent and invest in our future. This is about protecting the brilliant team we’ve built, continuing to deliver the personal service our clients rely on, and creating new opportunities for growth here in the East of England.”
Longstanding commitment to the community
Yutree’s commitment to the local community is longstanding, with the company having raised over £7,000 for East Anglia’s Children’s Hospices (EACH) in 2024. The business is also a supporter of the Cambridge Sporting Foundation, Cambridge Rugby Club, and is set to sponsor Wymondham Rugby Club as part of its ongoing investment in Norfolk. Kevin Hancock also serves as a Trustee of The Newmarket Charitable Foundation and a Director of the Newmarket Community Foundation CIC.
The MBO and Norwich expansion come as part of a wider strategic plan, which includes the appointment of Peter Sheppard as Non-Executive Director and the development of an operational board to help drive future growth and innovation.
“We’re putting everything in place to grow sustainably,” said Kevin Hancock. “That includes investing in new talent, evolving our technology, and empowering our team. It’s a really exciting time for Yutree – and we’re proud that the next chapter of our story is rooted right here in our local communities.”
Yutree’s legal and financial advisors on the MBO were Howes Percival and Price Bailey.
