Encouraging growth for JMG’s Professional Indemnity Specialists
Our Professional Indemnity (PI) division has exceeded its first-year targets and is on course to quadruple in size in just three years. Since its launch, the business has gone from zero to turnover of £250,000 and is on track to hit its £400k turnover target for 2016/17.
PI insurance specialist Jake Fox set up the division with 15 years’ experience in the sector. Jake is no stranger to building successful businesses – he was part of the management team that grew Prime Professions into a market leading professional risks insurance broker in recent years. Based in London initially, Jake launched and grew the firm’s Leeds office in 2011 before it was acquired by Willis in 2013.
He says, “I was confident that the JM Glendinning business model was strong from the onset and that the infrastructure was in place to achieve what I wanted to achieve; which has certainly proved to be the case.
“Building on the success of our first year, we plan to grow the division into a £1million turnover business over the next five years, employing a team of specialists. Based on current performance and staffed with the right people – both up and coming talent and experienced senior level members – I think we could feasibly achieve this in three years.”
Says Nick Houghton, JM Glendinning MD, “What most impresses me about Jake is his ability to seize opportunities which others in the region might shy away from. Jake works closely with professional firms to help them see the bigger picture and encourages them to step back and look at all the risks which affect their business, rather than the risk which is most pressing at the time of policy renewal. His vision for the future of the business combined with his understanding of the marketplace and his drive will see him, and the business, do well.”
JM Glendinning Professional Risks delivers specialist brokerage and claims support, with the emphasis on providing a high level of service to legal firms across the UK.