UK-based insurance firm Jensten Group has announced the acquisition of specialist commercial intermediary Basil Fry & Company.
The financial value of the deal was not disclosed.
The acquired firm, which was established more than five decades ago, is engaged in providing insurance solutions to the removals, storage and self-storage sectors in the UK.
Based in Surrey, Basil Fry brings an additional £25m in gross written premium (GWP), 41 employees and more than 2,000 clients to Jensten.
Under the terms of the agreement, Basil Fry managing director Greg Wildman will continue to lead the firm and report to Jensten retail managing director Rob Organ.
Jensten Group group CEO Alistair Hardie said: “Basil Fry is the market leader in its chosen sectors and another top-quality brokerage that has chosen Jensten as its acquisition partner.
“As we continue to build the business through acquisition, with further announcements to follow soon, Jensten’s ability to continually attract established, entrepreneurial brokers to Jensten stands testimony to its culture – putting people and clients first.”
Basil Fry MD Greg Wildman said: “After significant sustained growth for many years, we needed to find a powerful partner to develop our service offering both in the UK and in Europe and we are very excited about the opportunities that Jensten will provide to us.”
This transaction, which is Jensten’s seventh since August, comes on the heels of the company’s announcement last week about the acquisition of Bellegrove, a specialist auto trade broker.