When he was named group CEO of Jensten Group in November of last year, Rob Organ (pictured) emphasised the “exciting times” ahead of the insurance group – and that appears to include acquisitions, organic growth and new levels of investment.
M&A is very much still on the cards for Jensten, but organic growth is the opportunity it’s focused on, Organ said, as it looks to grow out its number of clients, its volume and its reach. A core component is finding out where different elements of the business can support each other internally, to deliver a truly full-service solution and experience to clients.
Clients, Organ suggested, are looking for a more joined-up approach to the insurance proposition, and they recognise where their insurance partners are making a concerted effort to ensure a positive client experience. They’re increasingly looking for insurance partners willing and able to deliver that level of service.
“Our business model puts us in the same privileged position as a number of larger players in the market who have a good regional footprint in underwriting specialisms,” he said. “But because we’re not as large and we’re not as corporate, I think we’re less caught up in the things that the larger corporates get caught up in, including international expansion. We’re proudly focused on serving the UK and Ireland and we have no intention of buying businesses overseas.
“That’s not our goal, so where others are distracted doing that, it puts us in a great place. Similarly, when it comes to the M&A side of things, those businesses tend to be focused elsewhere. So, where we see the opportunity is that some of our smaller competitors don’t have the same level of sophistication as our business model. We can offer more growth opportunities.”
The group is looking for further expansion and to acquire businesses where there is an aligned culture. “People are at the heart of our business, and that needs to be the same across anyone we talk to,” Organ said, “If that isn't the case, then we're not the right home for them. People need to want to be part of Jensten.”
He highlighted that the group has established itself in a number of areas, including nine regions of the UK. Its regional, predominantly commercial, broking arm has a well-established footprint, he said, bolstered by some great acquisitions which have given it a strong presence across a range of different geographies. “What we will be focusing on going forward is building out within those regions.
“We'll be growing out our scale within each of our regions, and, I suspect, over the next three-to-five years, we will take the opportunity to grow out our regional presence. There are still some parts of the UK where, whilst we have a really good footprint, we would like to have a stronger physical presence in that region.”
The firm is also targeting continued growth across its specialisms and schemes business, Organ said. “We'll definitely be building out our specialist lines teams. We’re constantly recruiting and looking for great people. But we’re also looking to accelerate that through selective M&A.
“While we’re focused on broking, we have made some acquisitions in the MGA space as well. We've made two or three over the last few years, and we will continue to selectively acquire MGA and product focused businesses as well, where it makes sense to do so.”
Having done some 37 acquisitions since 2021, Jensten is not anticipating slowing or speeding up its rate of M&A activity, he said, and anticipates circa a dozen deals in 2025. “We will probably buy more businesses within a region today, and have to worry less about buying regional hub offices,” Organ said.
“For us to be where we want to be in three-to-five years-time, will see us find an additional or new sponsor or private equity business to support us, we’ve made no secret of that. Livingbridge is really happy with what we’re doing but we will need to get somebody else involved - either as well as, or instead of. Within my first year, it would be great to have that in place so we can accelerate through the next three-to-five years with all those key building blocks in place.”
