The Jensten Group has today announced its acquisition of the Lake District-based brokerage Simpson and Parsons for an undisclosed amount. Under the terms of the deal, which has received regulatory approval, the business will become Jensten’s sixth regional centre – servicing clients across Cumbria and the North.
With offices in Windermere and Kendal, Simpson and Parsons, will bring a team of over 20 staff to the group and add more than £9 million in GWP. The broker specialises in supporting accommodation and hospitality businesses in the region and has developed specialist products for hotels, guest houses, B&Bs, holiday homes and restaurants through its MGA, InsureUK.
Simpson and Parsons CEO Tim Parsons will remain with the business post-acquisition, stepping into the role of regional managing director, Northern region and reporting to Robin Thomson, MD Jensten Insurance Brokers.
Commenting on the deal, Parsons said: “With Jensten, we’re joining a business where our established regional presence and focus on delivering great solutions for our specialist groups of clients is valued and seen as important.
“From the beginning it was clear to us that Jensten were the right people to partner with; their focus on our people, the cultural fit, and the part we’d play in the wider strategy to grow, gave us the confidence that joining the Jensten family was a fantastic next step for the business.”
Jensten CEO Alistair Hardie noted that Simpson and Parsons gives the group an additional regional centre of excellence as it focuses on building a connected broker of scale.
“Our centres of excellence, whether regional or specialist, allow us to get close to our different client groups, building a comprehensive understanding of their needs,” he said. “Having extensive underwriting and product capability as an integral part of our strategy means we are benefitting from our ability to build and distribute market-leading client propositions.”
