UK-based independent insurance broker Jensten Group has purchased regional peer J. Bennett & Son Insurance Brokers and its subsidiary Mathews Comfort & Co.
The consideration for the acquisitions of High Wycombe-based J. Bennett & Son and Oxford’s Mathews Comfort, was not revealed.
J. Bennett & Son is engaged in serving commercial clients locally with specialisation in the field of life sciences and biomedical.
Mathews Comfort and J. Bennett & Son were set up in 1851 and 1908, respectively. The two entities combined operations in 2017, currently operating with staff headcount of 25 across two offices.
Jensten expects the acquisition to bring £13m in gross written premium.
The deal, which follows the takeover of Ravenhall, Origin UW and Coversure Nottingham, awaits regulatory clearance.
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Jensten Group CEO Alistair Hardie said: “We are delighted to welcome J. Bennett & Son and Mathews Comfort to the Jensten family.
“This is a business with a significant history and a proven track record over many years of putting clients and staff first. Jensten is completely aligned on these values, making this an excellent acquisition.”
J. Bennett & Son MD Peter Sutcliffe said: “As some of us are reaching retirement we wanted to sell to a business who would continue to prioritise our clients and staff and recognise the value of our heritage and specialisms.
“Throughout the process, Jensten demonstrated their focus on all the core things that matter to us, and so were the obvious choice as the business moves into its next phase.”
Last month, the insurance intermediary launched a new unit, called Jensten London Markets, to combine its market operations and teams in London.