Wed, 13 Dec 2023 | BUSINESS SALE
Insurance firm Jensten Group has continued its M&A-led growth with the takeover of Scrutton Bland Insurance Brokers, an insurance business based in East Anglia. Scrutton Bland provides broking services to clients from an array of sectors, with a focus on commercial property.
The company has a team of more than 50 staff and, in addition to its commercial property services, has well-established specialisms in charity and agriculture. The acquisition of Scrutton Bland adds £22 million of gross written premium (GWP) to Jensten Group.
Following the acquisition, Scrutton Bland will join East Anglia-based One Broker Group, which Jensten acquired last month. The acquisition of the companies and Scrutton Bland’s integration into One Broker Group reflects Jensten’s strategy of building regional specialist centres of excellence.
This strategy was also demonstrated in October 2023, when Jensten acquired Yorkshire-based White Rose Insurance Solutions, which will become part of fellow Yorkshire firm Ravenhall Risk Solutions – a business that Jensten acquired in 2022.
Post-acquisition, Scrutton Bland Insurance Brokers Director Tim Mulley will continue to lead the business, while reporting to Jensten Insurance Brokers Regional Managing Director Sean Clark.
Commenting on the deal, Jensten Retail Managing Director Rob Organ said: "We're seeing real success as we grow our regional footprint across the UK. Our recent announcement in Yorkshire and now additional investment into East Anglia are testament to our strategic focus of establishing regional centres of excellence.”
"At the same time, we want to grow our specialist capabilities, with propositions focused on specific client and industry sectors. Scrutton Bland Insurance Broker’s reputation for providing a high-quality and tailored service to clients across East Anglia, as well as their specialist offering to charity and agricultural communities makes them a great new addition to Jensten and we look forward to welcoming Tim and the team to the Jensten family.”
Tim Mulley said that it was important for Scrutton Bland to “join a business with a good cultural fit and a clear focus on clients” and that “this was the case with Jensten.”
Mulley continued: "We have a strong presence in the East Anglian region and preserving that local connection with our clients was important for us. We wanted to join a business that was able to support our growth, offer continued stability to our clients, at the same time as genuinely appreciating the significance of preserving our regional connection."
Find out more about the latest M&A trends in the UK insurance sector
This practice, established for over 16 years, is available for sale. Offering premises Leased from own property company with capacity for 15 additional staff.
This practice, which was established over 40 years is available for acquisition due to retirement. The practitioner would be available to assist in the transition period to ensure a smooth handover of clients.
This practice, which was established in the 1980s, is available for sale due to retirement. The partners have flexible requirements. Ideally all of them would like to stay on, in some form, for varying time frames.
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