Nick Houghton, Group CEO of JM Glendinning
JMG Group has made its first acquisition in the South of England, buying independent commercial broker Bickley Insurance for an undisclosed sum.
JMG Group, the parent company of Yorkshire-headquartered insurance broker JM Glendinning, has invested in the Surrey-based business which will continue to trade as Bickley Insurance and be led by MD, Jeff Bickley, who has been head of the business since an MBO in 1991. The firm brings its eight-strong team of insurance professionals to the Group.
Bickley Insurance has a strong reputation in the industry, specialising in commercial insurance. Says MD Jeff Bickley: “To clients, it’s very much business as usual – same name; same MD; same premises; and same exceptional team. The difference 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.
“JMG’s proposition was very attractive as our businesses have lots of synergies and shared values – particularly in our client centred approach – and its management team is out and out the best in the industry. 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, with private equity backing from growth investor Synova. Says Nick Houghton: “Bickley Insurance is an impressive business and Jeff and his team are first class operators and a great addition to the Group. We are delighted to welcome them into the fold. The acquisition will provide us with a great platform for future growth in the South as we look to invest in more independently owned insurance brokers who are considering their options for the future.”