Jensten Group has bought One Broker Group in what is described as Jensten’s biggest acquisition since launching in 2018.
The deal, financial terms of which were not disclosed, brings £60 million in gross written premium (GWP) to Jensten, putting the insurance distribution group in control of more than £500 million GWP. Snapping up One Broker, which has offices in Norwich and Cambridge, also means the arrival of 115 colleagues and the increase of Jensten’s staff count to 800.
“Jensten is a natural fit for our business as we move to the next stage of our growth,” One Broker chief executive Robin Plaster, who will lead further M&A (mergers and acquisitions) growth in East Anglia, said in a release.
“Early in our discussions with the Jensten leadership, it became clear that we have a shared view of the importance of looking after our people and providing excellent service to clients. Our established presence in East Anglia and specialist schemes add value to the group. We are delighted to join Jensten and are excited about this next phase.”
Sean Clark, managing director, will continue to lead One Broker.
For Jensten CEO Alistair Hardie (pictured above), the transaction is a testament to the strength of the company’s proposition to regional and specialist brokers seeking supported growth.
“The success we’re seeing in delivering significant growth, both organic and through acquisition, demonstrates the credibility of our people and our propositions to the market,” he said.
“Jensten is arguably the industry’s most exciting story and best-kept secret – over a reasonably short period of time we’ve delivered remarkable growth through organic initiatives such as our unique lead generation model and as a highly effective acquirer, and have become one of the fastest-growing brokers in the UK.
“One Broker is one of the outstanding regional assets in the UK broking sector, and we are delighted to welcome Robin, Sean, and the rest of the team to the Jensten family.”
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