Family-run £2m GWP broker acquired

JMG Group business Butterworth Spengler Brokers has acquired Anchor Insurance Services.

Prestatyn-based Anchor works with holiday parks on the North Wales coast, local businesses, as well as property owners based locally and in the surrounding areas.

It was established in 1980 and purchased by managing director Gareth Morris in 2000. The family-run broker has since grown into a £2m gross written premium (GWP) business.

The firm will continue to operate under its existing brand while integrating Butterworth Spengler’s and the JMG Group’s expertise and resources.

Morris said: “Our growth so far has come through delivering high quality services which clients are happy to recommend.

“Becoming part of Butterworth Spengler and the wider JMG Group means we can grow further by enhancing our services, while maintaining the personal touch we’re known for in the community.”

Acquisition strategy

Anchor Insurance is Butterworth Spengler’s fourth acquisition since becoming part of JMG Group in March 2021.

Other firms snapped up include Brunsdon Insurance Brokers, Kompliant and Rockland Risk Services.

The investment in Anchor supports JMG Group’s strategy of expanding regionally and leveraging local expertise.

John Lacey, Butterworth Spengler’s managing director, said: “Anchor is a quality family business which gives us a strong foothold in North Wales – an area we have been keen to move into.

“As well as bringing additional expertise and opening up opportunities, having this base will give our existing clients in this area easier access to our services.

“I can already see that Morris and his team’s hands-on approach is a great fit for our business and I am looking forward to seeing what we can achieve together.”