Aquisition-hungry Jelf Group buys a Cheltenham broker, adding £3m of general insurance premiums
Aim-listed broker Jelf Group has acquired the combined businesses of Cheltenham Insurance Brokers and Cheltenham Insurance Brokers Life and Pensions.
The group has assured that all staff as well as the directors, Peter Babbage and Andrew Cox will remain with the business. The directors will continue to look after both their general insurance and financial services clients and will add around £3m of general insurance premiums to the £110m that Jelf already place with insurance providers.
As part of the Jelf Group, Peter and Andrew and the team will also be able to introduce Jelf’s expertise in healthcare, employee benefits, wealth management and commercial finance to their existing clients.
Les Brewin, distribution development director at Jelf said: “This acquisition further strengthens our regional presence in this important location where we intend to continue to grow organically and by acquisition.
“The experienced team at Cheltenham Insurance Brokers will dovetail well with our existing insurance broking and financial services business which was established in the town 4 years ago. We are delighted to welcome Pete, Andy and the team, as well as their clients to Jelf.”
Andrew Cox and Peter Babbage, directors at Cheltenham Insurance Brokers, added “We are very much looking forward to working as part of the Jelf Group, it will give us the ability to extend our client offering to include a market-leading range of services and expertise, whilst still retaining our personal touch. This was a key factor in our choice of the Jelf Group”.
Jelf Group offers a range of consultancy services principally in the areas of commercial insurance, healthcare, commercial finance and employee benefits, in addition to wealth management services for individuals.
