JMG hits milestone with acquisition of insurance group

JMG Group has made its 40th acquisition to date with the purchase of London-based Confidential Solutions Group (CSG).

The group is formed of three firms, including managing general agent (MGA) Platinum Underwriting, Lloyd’s broker Leadenhall Insurance Brokers and retail broker Confidential Solutions.

All three business, which collectively write £8m in gross written premium (GWP), will join JMG as part of the deal.

CSG founder Kevin Carrabine and his 13 colleagues will also become part of JMG.

Nick Houghton, chief executive at JMG, said: ”It’s a terrific opportunity for Carrabine and his first-class team to continue the growth of all three businesses with the support of their new colleagues, as well as adding real value to JMG clients via the Lloyd’s and MGA expertise.” 

Milestone

This is JMG’s 40th acquisition since 2020, when the group was formed after JM Glendinning underwent a management buyout.

Houghton said that reaching 40 investments “is a real milestone”.

Speaking about joining JMG, Carrabine added: “I’m incredibly proud of what we’ve achieved, growing from a small business based in north London to become the business as we stand today.

”There is a lot of consolidation in the marketplace and being part of a bigger group feels like the right next step for our businesses and for our team. JMG’s vision for growth, combined with its commitment to supporting specialist businesses like ours, made this a natural move.”