The Broker Investment Group (TBIG) has recently completed the acquisition of a 100% shareholding in Callaway & Sons Insurance Consultants Ltd (Callaway Insurance), based in Chelmsford, Essex, marking its fourth major portfolio expansion for 2024.
Callaway Insurance, with a history spanning over five decades and a gross written premium (GWP) of £6.2 million, specialises in commercial brokering. The company is led by directors Jaimes Callaway and Paul Harrison, continuing in their roles of overseeing operations.
The integration of Callaway Insurance into TBIG over the past nine years, benefiting from enhanced partner relationships and products, culminates in this acquisition. Both Callaway and Harrison are set to remain at the helm, ensuring continuity of leadership.
Callaway Insurance's team, consisting of 10 members, will also retain their positions. The firm will maintain its operations from its current location in Chelmsford as it commits to providing local community insurance brokering services.
TBIG has outlined ambitious growth targets, aiming to achieve a GWP of £250 million by the end of 2024. This acquisition represents a strategic step towards reaching this goal.
In February, the organisation also announced that it is now part-owners of Jenkinson Insurance and Penk Insurance following a deal with the Jenkinson family,
Jim Callaway, CEO of Callaway Insurance (pictured above, left), expressed his views on the transition, noting that the “timing was right.”
“Having partnered with them for nine years already, we know and trust them, and this allows myself and Paul to concentrate on what we do best – looking after our clients, and our staff. Paul and I remain fully committed to the business and will work closely with TBIG in the years ahead,” Callaway said.
Andy Roden, CEO for retail at The Broker Investment Group, also shared his enthusiasm for the acquisition.
“We are delighted to increase our stake in Callaway Insurance, a business we have got to know very well over the years. Jim, Paul, and the Callaway team are first class with a loyal client base and a business that can continue on its impressive growth trajectory. TBIG are looking forward to continuing our strong partnership and success moving forward,” Roden said.
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