Insurance broking powerhouse JMG Group has affirmed its commitment to strengthening its commercial insurance services and its footprint in the south through its acquisition of SIA Insurance.
SIA, a Surrey-based insurance broker led by directors Chris Browne and Colin Duxberry, was established in 1996 and has since acquired five companies. The team now comprises 10 staff who offer commercial, property and motor insurance services from its offices in Surbiton, Surrey.
In a Press release, SIA noted selling to JMG Group is part of its succession plan and will provide the business with a solid platform for future growth. Under the terms of the deal, JMG Group will integrate SIA’s subsidiary, Evergreen Insurance Services.
Formed in 2017 by founder Dave Gardiner, Evergreen supports a range of ethical and environmentally focused charities, donating up to 25% of its commission to them. In addition, JMG Group will acquire Evergreen’s Tankershield and Oilshield products.
Commenting on the deal, director Duxberry said the move marks “an exciting chapter” for SIA and its team.
“The acquisition presents a fantastic opportunity for growth and for our staff to further develop with the support of a larger group of experienced insurance professionals,” he said. “I’ll continue to work with our existing clients while supporting the team through the transition. I’m excited to see the business grow and see the opportunities which lie ahead for our business.”
JMG Group CEO, Nick Houghton (pictured) also commented on the deal, adding: “It’s a pleasure to welcome Colin, Chris, Dave and the whole team to the group. Their business approach and ethos are a perfect fit for JMG Group. Colin and Chris’ experience in the industry, coupled with Dave’s experience and passion for the environment are a winning combination and will help us to provide an even better service to clients.”
