What Farmers & Mercantile Insurance Brokers does

Farmers & Mercantile Insurance Brokers is a UK-based insurance broker and financial advisory firm operating under the Lycetts brand within the Benefact Group, which is the third-largest insurer in the UK and the largest charitable insurer. The firm maintains a 14-office regional branch network and serves clients across rural estates, private client, equine, and commercial insurance segments, alongside financial advisory services covering employee benefits, inheritance tax planning, investments, life assurance, pension planning, cash flow forecasting, cash investment, and owner/shareholder protection. The business is built on a chartered, advice-led model with no online self-service portal; distribution is conducted through in-person advisers and regional offices. The underlying technology stack is not disclosed, and no AI/ML capabilities, proprietary models, or platform products are described in the available data.

Revenue is generated through a blended model combining commission-based insurance broking and fee-based financial advisory income. The company engages in defensive brand and ESG positioning through CSR initiatives such as a three-year partnership with Yorkshire Children's Charity, a jockey sponsorship, the 'Pedal for Purpose' fundraising initiative, and a dedicated climate commitments page, alongside a 2026 corporate newsletter. The firm is privately held under Benefact Group, with no public revenue or funding figures disclosed and no M&A, leadership change, or product launch activity reported in the source material.

Name

Farmers & Mercantile Insurance Brokers

Legal name

Lycetts

Website

https://fandmgroup.co.uk

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Farmers & Mercantile Insurance Brokers is a UK insurance broker and financial advisory firm, part of the Benefact Group, serving rural estates, private clients, equine owners, and commercial clients across 14 UK offices via in-person advisory.

Ownership category

akta.pro rank

Product category

Insurance Broking

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Retail (Personal Lines) Insurance Brokerage (FSAEADAA), Farm Risk Management & Insurance Advisory (AFACAJAD)

Keywords

• Rural insurance broking
• Equine insurance services
• Private client insurance
• Commercial insurance brokerage
• Financial advisory services

Headquarters

HQ city

Sywell

HQ country

United Kingdom

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others

Revenue model

1. Insurance Broking: Commission-based insurance broking services across multiple specialist segments including rural, private client, equine, and commercial insurance. Earns commissions from insurance providers for placing and managing client coverage.
2. Financial Advisory Services: Fee-based financial planning and advisory services including investment advice, pension planning, inheritance tax planning, and employee benefits. Revenue generated through advisory fees and ongoing service charges.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Farmers & Mercantile Insurance Brokers provides specialist insurance broking across rural, private client, equine, and commercial segments, alongside fee-based financial advisory services covering employee benefits, inheritance tax planning, investments, life assurance, pension planning, and cash management. Coverage is tailored to specific sectors and delivered through direct advisor relationships rather than online self-service.

Product overview

Lycetts operates as an integrated insurance broker and financial services provider offering a comprehensive portfolio of products across four main insurance divisions (Rural, Private Client, Equine, and Commercial) and a full range of financial advisory services including employee benefits, inheritance tax planning, investments, life assurance, pension planning, and cash management. The company serves both commercial and private clients with specialized coverage tailored to specific sectors and client needs.

Differentiator

Problem solved

Functional benefit

Brands

• Pedal for Purpose: A Lycetts initiative turning every kilometre cycled into charitable support. For every kilometre pedalled, Lycetts donates £1, matched by the Benefact Group to double the impact. Supporting charities including the Country Trust, British Eventing Support Trust, MND Association and Speakers Trust.

Products and services

• Rural Insurance Specialist insurance coverage for rural clients covering estate, farm, motor, renewables, rural business, rural pursuits, SL&E member insurance, smallholding, and woodland.
• Private Client Insurance High-value insurance services for private clients covering contract works and building work, family office, fine art and collections, high-value motor cars, household, listed property, and travel insurance.
• Equine Insurance Comprehensive equine insurance including bloodstock insurance, embryo insurance, equine businesses, combined liability, motor fleet, property, polo pony, and sports horse coverage.
• Commercial Insurance Business insurance covering sectors including construction, cyber and data liability, education, family trust, forestry, leisure, manufacturers and retailers, membership organisations, not-for-profit, professions, property investors, renewable energy, and SME package.
• Employee Benefits Corporate employee benefits advisory and planning services for employers.
• Inheritance Tax Planning Planning services to help clients manage and minimize inheritance tax obligations.
• Investment Advice Professional investment advisory services including model portfolios and investment strategy.
• Life Assurance & Protection Life assurance and protection products for individuals and families.
• Pension Planning Retirement planning and pension advisory services.
• Cash Flow Forecasting Cash flow forecasting and management advisory services.
• Cash Investment Cash investment advisory and management services.
• Owner, Shareholder & Key Person Protection Protection products for business owners, shareholders, and key personnel.

Quantifiable outcome

• 100% client satisfaction - Lycetts understands their needs (2025 survey)
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor.

• Country TrustminorGTM or Marketing PartnerCharitable beneficiary of Lycetts' Pedal for Purpose initiative. Lycetts raises funds through cycling events, with £1 donated per kilometer cycled, matched by the Benefact Group.
• British Eventing Support TrustminorGTM or Marketing PartnerCharitable beneficiary of Lycetts' Pedal for Purpose initiative supporting equestrian-related charitable causes.
• MND AssociationminorGTM or Marketing PartnerCharitable beneficiary of Lycetts' Pedal for Purpose initiative. Motor Neurone Disease Association receives support through the cycling initiative.
• Speakers TrustminorGTM or Marketing PartnerCharitable beneficiary of Lycetts' Pedal for Purpose initiative supporting youth oration and communication skills.
• Yorkshire Children's CharityminorGTM or Marketing PartnerThree-year funding partnership with £25,000 awarded annually to support children's charitable initiatives in Yorkshire.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• NFU Mutual: The UK's leading rural and agricultural mutual insurer and broker, serving farmers, landowners, and rural businesses with the same primary client base and product mix (farm, estate, motor, commercial) as Lycetts/F&M.
• Howden Group: Specialist UK insurance broking group with strong rural, equine, and private-client practices that competes head-to-head with Lycetts/F&M for the same niche UK segments and operates through regional offices.
• Weatherbys: UK specialist in bloodstock, equine, and private-client insurance with deep relationships in the racing and breeding industry, competing directly with Lycetts/F&M's Equine and Private Client divisions.
• Cornish Mutual: Regional UK mutual focused on farm, rural, and small business insurance in the South West, directly comparable to Lycetts/F&M's Rural division and overlapping equine and HNW offerings.
• Bluefin Insurance: UK specialist insurance broker serving commercial, professional, and niche personal-lines clients through regional offices, comparable in scale and specialty orientation to Lycetts/F&M.
• Towergate Insurance: Large UK insurance broker offering specialist commercial and personal lines across multiple verticals including rural, equine, and HNW, operating a multi-office relationship model closely comparable to Lycetts/F&M's distribution strategy.

Broad incumbents

• Ardonagh Group: Large UK insurance broker group encompassing multiple specialty and personal-lines brands; competes broadly across rural, commercial, and HNW segments and represents a likely consolidator competitor.
• Hiscox: UK-headquartered specialist insurer and broker covering fine art, HNW, equine, and specialty commercial risks with a direct-to-consumer and broker-distribution model that overlaps Lycetts/F&M's specialist offerings.
• Marsh: Global insurance broker and risk advisor with significant UK presence in commercial, cyber, and HNW private-client lines, serving as a broad incumbent competitor across most of Lycetts/F&M's product range.
• Aon: Global professional services firm with a major UK insurance brokerage arm covering commercial, reinsurance, and HNW wealth; competes with Lycetts/F&M particularly in commercial and high-net-worth segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farmers & Mercantile Insurance Brokers