Broker strengthens presence in South West with purchase of Lampier
Bristol-based commercial consultancy Jelf Group is delighted to announce the acquisition of John Lampier and Son (Lampier), also based in Bristol.
The acquisition of Lampier will make the combined group the largest general insurance broker in the South West, giving the group a dominant position in the region.
Lampier is a highly profitable, well-run commercial insurance brokerage, with a strong record of organic growth through new business and acquisition. Together Jelf Group and Lampier will enjoy an estimated 15-20 per cent market share position in the commercial insurance market in Bristol and the South West.
The acquisition will see the gross written insurance premium for the enlarged group increase by £35m to £150m. This consolidates the group’s position as a top ten UK independent insurance broker.
To date, Lampier has focused on commercial insurance so the potential for cross-selling other Jelf Group services such as employee benefits, healthcare and commercial finance is considerable.
Lampier Professions, purchased as part of the deal, is a highly skilled professional indemnity specialist. There is also potential to increase income from this source as the enlarged Group will be of sufficient size to deal direct with Lloyds Underwriters.
The Lampier brand will be retained.
Talking about the rationale for the deal, Alex Alway, group chief executive at Jelf Group, commented: “We are absolutely delighted that the directors of Lampier have chosen the Jelf Group. We know each other well and our businesses share the same strong client focus.
"The two companies have complimentary areas of expertise and working together we will become a force to be reckoned with in Bristol and the South West; there is tremendous potential for growth.”
Lampier managing director Bob Hearne (who will join the operating board of the Jelf Group), added: “All the directors are excited about the added benefits that being part of the Jelf Group will offer to our clients. The insurance market is changing rapidly and scale is increasingly important to enable us to provide the best possible support for clients.
"We have been conscious that we would need to look to work much more closely with another organisation. Working with the Jelf Group gives us the opportunity to retain our Bristol roots, offer our clients a greater range of services and secure a future for our staff.”