Monday, April 22, 2024

JMG Group kicks off the year with two acquisitions

Yorkshire-headquartered JMG Group has started the year as it means to go on with two acquisitions which help strengthen its position in the South of England and in Scotland.

The burgeoning £205m GWP Group has acquired Southampton-based Knightsure Insurance Brokers in a deal that sees the Group purchase 100% of the £1.8m GWP boutique corporate insurance broker business. The acquisition further broadens JMG Group’s foothold in the South of England following its recent acquisition of Wokingham-based BJP Insurance Brokers and also establishing the new JM Glendinning Community Risk Solutions out of offices in Fareham.

Its second acquisition is of £1.5m GWP T I Alexander Insurance Brokers in Bo’ness by Scotland-based JMG Group company Greenwood Moreland. Scott Alexander, former owner of T I Alexander, will join the Greenwood Moreland team, primarily supported from its Bathgate office. The acquisition will provide eventual succession for the T I Alexander business and in the meantime will allow Scott to build on the success of the business with the support of a broader team.

Nick Houghton, JMG Group CEO, says: “We are thrilled to bring these well-established and highly successful businesses, at opposite ends of the country, into our Group. Adding such high-calibre industry professionals to our team gives us greater standing in the marketplace and additional wealth of knowledge and experience to tap into. Our deal with T I Alexander also demonstrates our commitment to investing in our acquired businesses so that they in turn can make sound investments and grow their offering.

“While Tony Knight and Scott Alexander are both a way off retirement, our Group proposition gives them a ready-made succession plan that enables them to focus on the parts of the business they enjoy the most, whilst continuing to give their clients high levels of service.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.








Latest news

Related news