JMG Group has announced its intention to continue its acquisition strategy into 2025 and beyond after completing more than 20 deals last year.
The Leeds-based broker, which placed more than £350 million in gross written premium in 2024, is currently in advanced negotiations with multiple firms and expects to confirm further transactions in the coming months.
The broker retains Leeds-headquartered law firm Gordons, which advised on all 20 of its English acquisitions in 2024, to support any new deals in 2025. Transaction values have not been disclosed.
Group CEO Nick Houghton (pictured above, left) highlighted JMG Group’s strategy, noting that it has supplemented organic growth with targeted acquisitions over the past four years.
Houghton also confirmed that the company sees further opportunities to expand through strategic acquisitions in 2025.
Duncan Firman (pictured above, right), corporate partner at Gordons and lead adviser to JMG Group, said the firm has developed a close working relationship with the broker’s in-house mergers and acquisitions, human resources, and regulatory teams.
JMG Group was established in 2020 following a management buyout of JM Glendinning Insurance Brokers, led by Houghton and backed by private equity firm Synova. Since its formation, the company has completed 46 acquisitions, expanding its presence across the UK.
JMG Group now employs more than 700 insurance professionals across 45 offices, spanning from the Scottish Highlands to the south coast of England.
The firm’s 40th acquisition was in September of last year, when the broker announced the purchase of Confidential Solutions Group, a London-based business.
The deal brought together Platinum Underwriting, a managing general agent (MGA), Leadenhall Insurance Brokers, a Lloyd’s broker, and Confidential Solutions Ltd, a retail broker, into the JMG Group portfolio.
Founded by managing director Kevin Carrabine, the group of companies has grown to handle £8 million in gross written premiums (GWP) since the launch of Confidential Solutions in 2002.
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