JMG Group expands presence in Scotland and Southampton with two broker buys

JMG Group has today (9 January 2023) acquired Knightsure Insurance Brokers and T I Alexander Insurance Brokers in two separate transactions.

Southampton-based Knightsure Insurance Brokers is a corporate insurance broker business, which currently holds £1.8m gross written premium (GWP).

The deal aims to broaden the group’s presence in the South of England, following the purchase of Wokingham-based BJP Insurance Brokers in November 2022.

Scotland-based T I Alexander Insurance Brokers, on the other hand, writes £1.5m GWP and has been bought by JMG Group company Greenwood Moreland Insurance Brokers.

Scott Alexander, the former owner of the Bo’ness broker, will join the Greenwood Moreland team as part of the move, with the aim of expanding the business with the support of a broader team.

Nick Houghton, JMG Group’s chief executive, said the deal with T I Alexander Insurance Brokers “demonstrates our commitment to investing in our acquired businesses, so that they in turn can make sound investments and grow their offering”.

JMG Group bought Greenwood Moreland in April 2022.

Eyes on ranks

Houghton continued: “We are thrilled to bring these well established and highly successful businesses, at opposite ends of the country, into our group.

“Adding such high calibre industry professionals to our team gives us greater standing in the marketplace and an additional wealth of knowledge and experience to tap into.

“While Tony Knight and Scott Alexander are both a way off retirement, our group proposition gives them a ready-made succession plan that enables them to focus on the parts of the business they enjoy the most, whilst continuing to give their clients high levels of service.”

Tony Knight serves as managing director at Knightsure Insurance Brokers, having founded the business with his wife in 1990.