The Broker Investment Group (TBIG) has announced its first acquisition of the year as it takes on the remaining shares in Bullerwell Insurance, a Bedford-based broker with a gross written premium (GWP) of £12 million, bringing its shareholding in the firm to 100%.
TBIG has overseen a dynamic investment strategy, with 10 investments in the past 12 months following 10 in 2022. This strategy, comprising a mix of organic growth and acquisitions, has added £60 million GWP to TBIG, keeping them on track to achieve their target of £250 million GWP by the end of 2024.
With several other businesses in due diligence, TBIG anticipates a productive year ahead. In 2023, TBIG aided The Needham Group, Mark Richard Insurance, and Hallsdale Insurance with complete rebrands. Additionally, the new MGA division within TBIG has already started writing new business for TBIG brokers, indicating a promising year ahead for all partner brokers.
Dave Clapp (pictured above, left), CEO of TBIG, expressed his enthusiasm about the acquisition, which marks the group's first in 2024.
“The chance to increase our shareholding to 100% was an opportunity I jumped on,” Oldham said. “Having got to know Dean and Damon over the last few years, I have seen first-hand their drive and professionalism and the results they have delivered with their team have been first class. Dean and Damon and the rest of the senior team will remain with the business in their current roles and help us drive further growth in the years to come.”
Dean Oldham (pictured above, right), CEO of Bullerwell Insurance, also commented on the long-standing relationship with TBIG and the alignment of mutual aspirations between the two entities.
“This transaction enables us to get some just reward for the hard work we have put in, but also enables us to remain in situ and continue to run the business day to day with the support of the wider TBIG team,” Oldham said.
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