Jensten Group acquires Coversure Poole

Insurance distribution business Jensten Group has acquired Coversure Poole amid its “rapid organic growth,” according to a statement released yesterday (1 June 2023).

The deal will see the business join Jensten Insurance Brokers and form the base of its retail regional presence in the South.

Jensten said the move would extend its retail regional footprint and ability to achieve further growth, both organically and by acquisition.

And as part of the deal, Conversure Poole founder John Palmer will take up the role of regional managing director, continuing to lead teams within the business.

The company, which has offices in Poole, Weymouth and Croydon, is a member of Jensten’s franchise network Coversure.

Palmer said Coversure’s ‘business in a box’ model gave him the framework and support needed to launch the Poole business.

“The comprehensive package of back-office, insurer and compliance services has allowed me to focus on looking after my clients and growing a successful business,” he added.

“Being backed by Coversure has enabled me to grow my business more quickly and to a much greater size than I could have managed alone.”

‘Great example’

Jensten Group now has three distinct yet complementary divisions – Jensten Insurance Brokers, the Coversure Franchise network and Jensten’s wholesale division that includes Jensten Underwriting and Jensten London Markets.

At the beginning of 2023, the group announced it expected to help 10 insurance entrepreneurs launch broking businesses this year within the Coversure network.

Rob Organ, group retail managing director, said Palmer was a “great example of what entrepreneurial insurance brokers can achieve with Coversure”.

“We’re seeing more and more people realise there’s a significant and realistic opportunity for them,” he added.

“At the same time, our wider ‘build and buy’ strategy is creating a significant pipeline of brokers, many of whom will choose to sell to us.”