Joining the group will see the insurance broker and risk management firm obtain a ‘greater market strength’, says chief executive

JM Glendinning Group (JMG Group) has continued its growth by acquiring insurance broker and risk management firm The Sphere Group.

Established in 2009 and based in Newcastle, Sphere provides insurance broking services to a wide variety of businesses and high net worth (HNW) clients.

Prior to joining the JMG Group, the firm acted as an appointed representative (AR) of the Gauntlet Group as a network member.

The deal will see Sphere’s staff move to the premises of JM Glendinning Insurance Brokers North East, which has been part of the JMG Group since 2013.

The Sphere staff will join 23 JM Glendinning staff, who work predominantly with SME clients, in the group’s Newcastle office.

However, the business will continue to trade as The Sphere Group and will retain its team of seven – including managing director Alan Oliver.

Time to move

JMG Group chief executive Nick Houghton said: “Sphere is another great addition to our group, further expanding our coverage both geographically and in the services we provide.

“The company has an impressive record, particularly in terms of staff and client retention and it stands out as a business which is well managed and has a quality team that is valued by its clients.

“Being part of the JMG Group will further enhance Sphere’s services and give them even greater market strength.”

Oliver added: “We have come a very long way since we set up the business in 2009. We have grown year on year and my team has expanded to support this growth.

“The time was right for the business to move away from the network model of broking and to enter this next phase of expansion.

“I am excited to work with the other JMG Group businesses to offer even better access to markets and services for our clients’ benefit.”