Saturday, June 19, 2021

Yorkshire insurance broker adds industry veteran to senior team

JM Glendinning has expanded its senior team with the appointment of Neil Reid as Group Insurer Placement Director.

Mr Reid joins the Yorkshire-headquartered insurance broker following a 27-year career in the insurance industry.

Starting at Norwich Union, he moved on to roles with brokers JLT, Alexander Forbes and Marsh before setting up his own broker business in 2008, which he sold in 2017.

“I’ve been out of the industry for a few years following the business sale, and I was itching to get back into it,” he said.

“I had a few offers on the table, but none of them excited me as much as the opportunity to join JM Glendinning as the business moves into its next phase of serious growth.”

In his new role, he will work alongside Group Broking Director John Tollerfield in an insurer liaison and management role to deliver the group’s placement strategy.

“My job is to make sure we are getting the best out of our insurer relationships as the business grows, and that we continue to secure the best deals for our clients,” he said.

JM Glendinning group CEO Nick Houghton led a management buyout at the firm late last year, backed by growth investor Synova.

This was followed by the acquisition of tailored private and commercial insurance specialist Nowell & Richards in March, and a deal with Merseyside insurance broker Butterworth Spengler that saw JMG support a management buyout at the firm.

“Things are changing rapidly in the business as we continue on our acquisition trail. Since the beginning of the year, we have grown from a £45million premium income business to £75million and it’s important that our insurer relationships keep pace with business growth,” said Mr Houghton.

“Neil is a fantastic addition to our senior team to help us manage insurer relationships and make sure the terms we secure for our clients reflect the group’s size and scale.”

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