JMG Group, a UK-based insurance coverage dealer, has introduced the acquisition of BQI Insurance coverage and its sister firm BQI Safety for an undisclosed sum.
BQI Insurance coverage’s buy is predicted to bolster JMG Group’s presence within the building, fleet and legal responsibility insurance coverage sectors and improve its shopper servicing capabilities throughout the board.
It is going to see JMG Group’s workforce develop by 46 staff and its gross written premium improve by £25m.
With this growth, JMG Group extends its attain with further workplaces in London, Wellingborough and Perth.
Andy Brown and Sean Quinn based BQI Insurance coverage in 2006.
It focuses on building, fleet and motor commerce insurance coverage, and is alleged to convey experience in dealing with difficult-to-place dangers.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain electronic mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we wish you to take advantage of
useful
determination for what you are promoting, so we provide a free pattern you can obtain by
submitting the beneath kind
By GlobalData
In the meantime, the acquisition of BQI Safety, a dealer specialising in private cowl, enterprise safety and worker advantages, guarantees to diversify JMG Group’s portfolio.
Since its institution in August 2018 by co-founders Brown, Quinn, and Malcolm Robertson, BQI Safety is alleged to have been on an upward trajectory.
With a 50% stake, Robertson is main BQI Safety, which is concentrated on recruitment, increasing insurer choices and income progress.
JMG Group CEO Nick Houghton mentioned: “Andy and Sean have constructed an amazing enterprise and completely share our obsession with natural progress and knowledge. Welcoming Malcolm on board may even convey worthwhile experience to the broader group. To have a possibility to put money into the crew and assist them proceed their progress and success is an actual privilege, and one I’m trying ahead to being a part of.”
Brown added: “The funding is a superb alternative for our companies to proceed to flourish while retaining our id. We by no means relaxation on our laurels; we wish to be on the entrance foot and we consider partnering with JMG Group will give us the added aggressive edge we need. It provides a major alternative for our staff to develop their portfolios and develop professionally.”
Earlier this 12 months, JMG Group-owned Astute Insurance coverage Options accomplished the acquisition of Sandhouse, a property insurance coverage specialist.
