JM Glendinning expands portfolio with broker buy

JM Glendinning Insurance Brokers has acquired Birmingham-based Madoc and Rhodes to expand its portfolio.

Incorporated in 1967, Madoc and Rhodes has a team of seven insurance brokers led by managing director Paul McGrory.

The deal will see the business continue to deliver vehicle, home and property insurance services from its Lea Village office.

It will also work closely with JM Glendinning’s Birmingham based business, which is part of the JMG Group.

Jake Fox, group managing director at JM Glendinning, said: “This is a great opportunity for JM Glendinning and will unlock many opportunities as we build upon the existing well-known brand and quality service that’s already associated with Madoc and Rhodes.

“As a long-standing firm in Birmingham, we believe Madoc and Rhodes will complement our established team in Birmingham, led by Chris Hitch, and add breadth to our existing base in the city and beyond.”

Leadership

Fox added that “Paul’s strong, principled leadership will no doubt help continue driving growth in the business”.

McGrory joined Madoc and Rhodes in 1985, became co-owner in 1997 and sole owner in 2008.

“We’ve experienced significant growth over the last 12 months and by joining the JMG Group, we are now stronger than ever,” he added.

“We are a friendly and proudly traditional team who thrive on delivering outstanding customer service.

“Every client is important to us and we have a fantastic retention rate.”