JMG Group has made its 40th acquisition in four years with the purchase of Confidential Solutions Group, a London-based business.
This latest deal brings 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 (pictured above), the group of companies has grown to handle £8 million in gross written premiums (GWP) since the launch of Confidential Solutions in 2002. The acquisition will see Carrabine and 13 of his colleagues join JMG Group.
Carrabine commented on the move, reflecting on the company’s growth from a small North London business into its current form.
“There is a lot of consolidation in the marketplace and being part of a bigger group feels like the right next step for our businesses and for our team. JMG’s vision for growth, combined with its commitment to supporting specialist businesses like ours, made this a natural move. We’re excited about the future and the opportunities this brings for our team, the JMG Group as a whole and for our clients,” Carrabine said.
Nick Houghton, CEO of JMG Group, described reaching 40 acquisitions since the group’s management buyout in 2020 as a significant milestone.
“It’s also a terrific opportunity for Kevin and his first-class team to continue the growth of all three businesses with the support of their new colleagues, as well as adding real value to JMG Group clients via the Lloyd’s and MGA expertise,” Houghton said.
Back in August, JM Glendinning North Yorkshire, a division of the JMG Group, completed the acquisition of C P Bennet Ltd, an established insurance broker specialising in commercial and personal lines.
The Scarborough-based JM Glendinning North Yorkshire, under the leadership of managing director Alison Piercy, made this acquisition shortly after relocating to larger premises to support its growth strategy.
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