JM Glendinning Insurance Brokers is on a roll, having acquired another insurance broker following its recent swoop of Butterworth Spengler Insurance Brokers. Now, it’s the turn of Staffordshire-based tailored private and commercial insurance provider Nowell & Richards to join the Yorkshire-headquartered group.
Without disclosing financial terms of the transaction, JM Glendinning said Nowell & Richards managing director Richard Nowell will continue to be in charge of the business, which came to life in 1976 and caters to corporate leaders, entrepreneurs, professional sports stars, and high-profile clients.
“Welcoming Richard and his team to the group represents the next step in an exciting growth journey for JM Glendinning,” said executive chair Tim Johnson. “We plan to supplement our strong organic growth with a series of complementary, strategic acquisitions that will see the business grow four-fold over the next five years.
“Our aim is not to replicate the consolidators but to continue adding value to our clients through an advice-led approach, coupled with the added buying power that greater scale affords. It’s been a busy start to the year, which looks set to continue over the months and years ahead.”
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Nowell, who described JM Glendinning as a like-minded and respected top 75 insurance broker, added: “We both saw an opportunity to add a new, complementary arm to their business focussed on high net worth clients and associated commercial lines.”
