JMG Group, the parent company of Yorkshire-headquartered insurance broker JM Glendinning, has made its first swoop in the South of England, with the purchase of independent commercial broker Bickley Insurance for an undisclosed sum.
The group has invested in the Surrey-based business, which will continue to trade as Bickley Insurance and be led by MD, Jeff Bickley. Bickley has been head of the business since it was an MBO in 1991 and the firm brings its eight-strong team of insurance professionals to JMG Group.
Commenting on the deal, Bickley noted that for the broker’s clients business will go on very much as usual – with the same name, same MD, same premises and the same team.
“The difference,” he said, “will be in the services we can provide and the buying power we will tap into, which will be enhanced by being part of something much bigger. We will also have support from a wider pool of professionals, which will allow us to grow and simultaneously benefit the group.”
He highlighted that JMG’s proposition was very attractive as the two businesses shared a variety of synergies and shared values – particularly in their client-centred approach.
“Its management team is out and out the best in the industry,” he said. “After 30 years at the helm of the business, I felt it was the right time to partner with like-minded people that will help secure the future of the business in a rapidly changing world as well as provide opportunities for the Bickley team to develop their careers.”
The JMG Group was formed in 2020 when JM Glendinning underwent an MBO led by group CEO Nick Houghton (pictured), with private equity backing from growth investor Synova. Discussing the deal, Houghton said that Bickley Insurance is an impressive business and that Bickley and his team “are first-class” operators and a great addition to the group.
Also commenting on LinkedIn, he said: “I’m delighted to welcome Bickley Insurance into the JMG Group family. Our first exciting step into the South, I’m looking forward to working closely with MD Jeff Bickley and his team on what will be an exciting next chapter of our growth.”