Jenkinson Insurance and Penk Insurance are now part-owned (49%) by The Broker Investment Group (TBIG) following a deal with the Jenkinson family.
The two commercial insurance brokers, which collectively employ 27 people, will continue to trade using their existing brands and premises. Jenkinson Insurance is based in Rotherham; Penk Insurance, in Chesterfield.
“This is a significant strategic investment, and I can’t tell you how pleased we are to have both teams as part of our family,” TBIG retail chief executive Andy Roden (pictured above) said in a release.
“Having worked closely with Martin and his team over the past few weeks, I am extremely confident that we can add real value and further increase the growth momentum.”
Roden was referring to Jenkinson Insurance managing director Martin Jenkinson, whose camp brings more than £15 million in total gross written premium (GWP). TBIG has a £250 million GWP target by the end of the year.
The managing director commented: “It was important to us that the identity and values of the company continued into the future, reflecting our staff’s commitment. This is a chance to release some equity while remaining in control. We look forward to a hugely fruitful partnership.”
Jenkinson Insurance and Penk Insurance have been trading for three and a half decades.
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