UK-based insurance broker Jensten has acquired Berns Brett, following approval from the Financial Conduct Authority (FCA).
The financial terms of the deal were not disclosed.
Jensten said the deal adds 40 employees and 5,000 customers to the group, bolstering its specialist and regional capabilities.
Berns Brett, which serves mid-market corporate clients across a variety of industries, has offices in London, West Sussex, and Cavan, Ireland.
The company advises customers on major and complex risks that can be placed into Lloyd’s through its London Market division.
Additionally, Berns Brett offers specialised private client services with offerings tailored specifically for affluent clients and athletes.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
As per the terms of the agreement, Berns Brett managing director David Skinner will continue to lead the business under Jensten Insurance Brokers managing director Robin Thomson.
Skinner said: “We wanted to join a business where our strengths would be valued and where there was a good cultural fit. Talking to Jensten, it was obvious there was alignment on the importance we place on clients and people and on what we could bring to the group.”
Jensten retail managing director Rob Organ said: “Berns Brett is a great acquisition for lots of reasons. Their offices in London and the South-East strengthen our existing regional presence, and the Irish business opens up a new region for us with significant opportunities.
“The business also gives us further capability as we develop our mid-market proposition and gives us additional expertise in HNW [high-net worth] and our private client offering.”
Jensten said it has acquired 20 brokers since 2021 as part of its goal to expand operations, and with the addition of Berns Brett’s Irish business, Jensten has made its first acquisition outside of the UK.
In July, Jensten purchased Simpson and Parsons, a UK-based broker focused on the accommodation and hospitality industry.