Mark Richard Insurance, part of The Broker Investment Group (TBIG), has acquired a 75% stake in Portal Broking Group in its sixth deal of the year.
Portal Broking Group, a commercial insurance specialist based in Tarporley, Cheshire, controls about £2 million in gross written premium (GWP). Founded in June 2022, it has expanded from a standing start to serve local businesses, with a particular focus on sports club insurance.
The business will continue to be led by managing director Jason Munnelly (pictured above, left), with the existing team of three remaining in place. The partners said the deal is structured to allow Portal to pursue its growth plans with operational and strategic backing from both Mark Richard Insurance and TBIG.
Mark Richard operates from three offices across Bristol and Weston-super-Mare and currently controls £12.5 million GWP. The Portal transaction lifts that figure to £14.5 million GWP and forms part of a plan to build a South West regional platform targeting more than £20 million GWP by the end of 2028.
Commenting on the acquisition, TBIG chief executive Dave Clapp said: “Portal Broking Group is a fantastic business, and Jason, Janet and Louise are people I know well and hugely respect. They truly understand commercial broking and partnering with Mark Richard was an easy decision for us.”
Mark Richard Insurance managing director Amanda Nethercott (pictured above, right) said the addition of Portal fits with the firm’s regional and sector strategy. “We’re thrilled to welcome Portal Broking Group, its staff, and its clients to the Mark Richard family. Their market knowledge, strong insurer relationships, and client-first approach align perfectly with our values,” she said.
The move comes as UK insurance distribution remains one of the more active M&A markets in Europe. Recent MarshBerry analysis shows deal activity has been increasing in the UK, France, Southern Europe and the Nordics, with 89 insurance distribution transactions announced year-to-date in the UK and Ireland, even as markets such as Germany have seen more limited activity.
Within the UK, MarshBerry has reported a pick-up in broking M&A towards the end of the third quarter, with September’s 10 announced deals making it the busiest month since April. Activity has ranged from large transactions such as Bain Capital’s investment in Jensten to a series of smaller regional acquisitions as consolidators look to deepen their presence in local markets.
Private equity remains an important feature of the broking consolidation story, with Bain’s Jensten deal identified as the fourth £100m-plus UK transaction of 2025 involving PE capital. Market observers say sponsor-backed platforms and investment groups, including TBIG, are using targeted acquisitions to add scale, niche expertise and carrier access.
