Jensten Group has purchased Tasker Insurance Group, an intermediary business operating in the Lloyd’s broking, MGA and retail broking space.
The deal, whose financial details are not disclosed, includes Tasker Insurance Brokers, Tasker & Partners and Gresham Underwriting.
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The acquisition will add an additional £50m gross written premium (GPW) to the Jensten Group, which currently controls over £300m in GWP.
The deal forms part of Jensten Group’s strategy to increase its GWP to £500m within the next three to five years.
The acquired venture primarily specialises in personal indemnity and medical malpractice, technology and life sciences, tour operators and travel, hospitality and leisure and specialist motor.
On completion, Tasker Group CEO Robert Organ will assume charge as Jensten Retail managing director.
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By GlobalDataTasker Group’s COO Graeme Lalley will be responsible for technology and operations, business transformation, HR, and facilities as Jensten Group COO.
Jensten Group CEO Alistair Hardie said: “Adding Tasker to the Jensten portfolio is an important part of our growth ambition. It is a strong strategic fit and gives us enhanced scale in each of our core business areas – retail insurance broking, wholesale Lloyd’s and London Market broking and specialist underwriting.”
As per the agreement, Organ and Lalley will join the Jensten Holdings Board.
Organ added: “Both Graeme and I are excited to join Alistair and the Jensten management team to help take the business to the next level. I am particularly enthused by the opportunity to work with the 95 Coversure franchisees, building on my insurance franchise experience in Australia, where we helped owners as they built businesses of real value and created a genuine partnership model.”
Tasker Insurance Brokers will now operate as a unit of Jensten Retail while Tasker & Partners will be part of Jensten’s London Market broking operation.
Gresham Underwriting will join Policyfast and City Underwriters, as part of Jensten’s MGA.
