TBIG acquires majority stake in Barnet broker

The Broker Investment Group (TBIG) has acquired a majority stake in Barnet-based independent broker Scott Blain Insurance Consultants.

TBIG – which already held a minority position in the firm following an initial purchase in 2015 – now owns 74% of the £9m gross written premium (GWP) business.

The group said that the purchase represented the “next stage in a successful partnership”, following “sustained growth and a strong trading performance” across the past decade.

Co-founder John Blain will move to a consultant role, while managing director Andrew Azzopardi will remain at the helm of the business.

The purchase is the third of the year for Peter Cullum-chaired TBIG, following the acquisition of Sunbury-on-Thames-based U Drive in April and Hinckley Insurance Services in June.

Natural progression

Dave Clapp, deputy chairman of TBIG, said: “Our relationship with Scott Blain spans more than ten years, so this transaction is far more than a traditional acquisition.

”It is the natural progression of a partnership that has delivered consistent growth, strong client retention and an outstanding reputation in its local market.

“Throughout our involvement, the team has demonstrated exactly the qualities we look for in a broker partner – professionalism, expertise, entrepreneurial drive and an unwavering commitment to client service.”

Azzopardi added: “TBIG has been a supportive and trusted partner for more than a decade, and this transaction represents an important milestone in our journey.

“We have ambitious plans for the future, including continued organic growth, investment in our people and the development of new opportunities across both commercial and personal lines.”