Leeds-headquartered JMG Group has acquired independent HGV and motor trade insurance broker, New Era, for an undisclosed sum.
JMG Group has invested in the Stoke-on-Trent-based business which will continue to be led by New Era directors Ella Burgess and Nathan Pedley, who set up the business just as the pandemic hit in January 2020. A former Gauntlet Group appointed representative, the firm will continue to trade as New Era and brings its team of four insurance professionals to the Group.
Having met when they worked together at One Sure Insurance, Ella and Nathan quickly recognised that their skills – Ella’s compliance and business analyst expertise and Nathan’s client-focussed approach – were a successful combination. With 17 years’ combined insurance industry experience, the pair have built New Era up from a standing start to a £2 million GWP business in just over three years and have set their sights on further growth.
Ella Burgess says: “We had outgrown the appointed representative model and were looking at routes to support our accelerated growth ambitions. This sale gives us the best of both worlds – Nathan and I remain autonomous and client focussed but with the added benefit of having access to a wider market and business security as we move into the next development phase.”
On the acquisition, Nathan Pedley says: “JMG Group could see our vision and it felt like the right fit. We are immensely proud of what we have achieved so far, especially with the hurdles that a global pandemic, a fuel crisis and a cost of living crisis have thrown at us. To be recognised by such a well-respected group is a real ‘pinch-me’ moment and we are very excited about what this will mean for us and our clients.”
Nick Houghton, JMG Group CEO, says: “The ability to start and build a business from scratch through a global pandemic is a testament to the directors’ tenacity and resilience when faced with unprecedented challenges. It shows their strength of leadership and business acumen. Bringing New Era into our group supplements our existing experience in this specialist market and will open up further opportunities for us in the wheels-based insurance arena.”
