The broker will also target oilfield service companies from its new Glasgow base
Jelf is moving north of the border to Scotland with a new Glasgow branch and is targeting an income of £1m over the next 18 months.
The broker, which has an annual income of £76m, has hired Paul McGhee and Robert McEwan as senior brokers to place new business in the corporate insurance market, including oilfield service companies in the north east of Scotland
The initial offering will be a ’boutique‘ corporate risk management and insurance broking service that will also offer integration with Jelf employee benefits.
McGhee said: “We are targeting corporate companies who value insurance as a business asset and not simply a commodity cost. Our forensic insurance cover audits for management teams frequently identify serious deficiencies that can leave company balance sheets exposed to potential major financial loss, with a very negative impact on company profits and share price. It is more important than ever that management teams focus on securing adequate business protection.”
Jelf Group chief executive Alex Alway added: “Robert and Paul are committed ‘client side’ professionals and will spearhead our move into Scotland.
“We see the potential for strong organic growth within 18 months and, additionally, we value their market and strategic knowledge to identify any business or team acquisitions in the corporate insurance and employee benefits arena to accelerate our growth in Scotland.”