England-based JMG Group has acquired independent commercial broker Bickley Insurance for an undisclosed sum.
Founded in 1986, the acquired firm provides general insurance products and services and deals with both commercial and personal lines insurance products.
As per the terms of the agreement, the Surrey-based insurer will continue its operations as Bickley Insurance.
The company brings along a team of eight insurance professionals and managing director Jeff Bickley will lead its operations.
JMG Group CEO Nick Houghton said: “Bickley Insurance is an impressive business and Jeff and his team are first-class operators and a great addition to the Group.
“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.”
Bickley Insurance will leverage JMG Group’s resources to offer more services and tap into greater buying power.
Bickley added: “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.”
JMG Group is the parent company of insurance broker JM Glendinning. It was formed in 2020 when JM Glendinning underwent an MBO. It was led by Houghton with backing from investor Synova.