The Broker Investment Group (TBIG) has completed its second acquisition of 2025, with further transactions expected in the second quarter.
The latest deal involves insurance professional Andrew Powell, who joins with an established portfolio of clients and a pipeline of prospective business. The agreement adds approximately £1 million in gross written premium (GWP) to TBIG and includes the opening of a new branch in Stratford-upon-Avon, contributing to the group's regional expansion.
In line with TBIG’s integration model, Powell’s business will be incorporated into Midlands-based The Needham Group.
Needham Insurance Services, part of The Needham Group and supported by TBIG, has increased its presence in the Midlands through previous acquisitions including Baldersons Insurance, PJ Insurance, and Corporate Insurance Solutions. The addition of Powell’s portfolio brings the group’s total GWP close to £10 million.
TBIG chief executive Dave Clapp said the transaction is the second to be finalised this year, with additional deals planned before the end of June. He said the group continues to grow its regional footprint and that the business model is receiving interest from insurance brokers.
Neal Lowe, managing director of The Needham Group, said Powell’s portfolio will be added to the firm and Powell is expected to maintain existing client relationships while also generating new business. He said the Stratford-upon-Avon branch forms part of the group’s growth plans and that the £10 million GWP milestone is within reach as the business pursues further expansion through both organic growth and acquisitions in partnership with TBIG.
The development follows recent activity across TBIG’s network. In March, BEAM Insurance Solutions, a TBIG-backed firm, acquired KDH Insurance Brokers Ltd, a £4 million GWP broker based in Bridgnorth, Shropshire. The acquisition increased BEAM’s controlled GWP to £20 million and supports TBIG’s plan to build BEAM into a regional firm with a £22 million GWP target by the end of 2025.
In November 2024, TBIG also appointed Katie Boots as HR director. Boots joined the business with more than 30 years of experience in human resources across the insurance and financial services sectors, with a background in regulatory compliance and the Senior Managers and Certification Regime.
