Family run broker secures increased investment

The Broker Investment Group (TBIG) has increased its stake in Glowsure to 49%.

Doxford-based Glowsure are a £5m gross written premium (GWP) commercial insurance broker with a team of 17 staff.

It is owned and run by husband and wife team Wesley and Rebecca Haynes, while mother Kerry Haynes heads up the finance team.

TBIG, which first invested in the business in 2017, said the additional investment will assist with further growth of the team alongside acquisitions.

In turn, Glowsure is aiming to hit the £25m GWP mark by 2028.

“We are really pleased with our organic growth to date and working closely with TBIG, are aiming to achieve the £25m GWP mark by 2028,” Wesley Haynes said.

“TBIG will continue to help us with strategic, compliance and marketing support, which is most welcome and allows us to continue doing what we do best – maintaining excellent relationships with our existing clients and winning new business.

“We are delighted to continue our alliance with TBIG and look forward to growing our business with their continued support.”

’Great partner’

The directors, team and premises remain unchanged following the increased investment.

Dave Clapp, chief executive of TBIG, said: “I’m really pleased that TBIG have increased our percentage share of Glowsure, a business we know and trust well. Wesley, Rebecca and their superb team are first class and understand the commercial insurance broking market inside out.

“That, and their ambitious growth aspirations, make them a great partner and we look forward to providing our continued support in their upward journey over the coming years.”