View more on these topics

Jelf buys The Insurance Partnership for £15.5m

Business-General-Handshake-Hire-Appointment-700x450.jpg

Consultancy firm Jelf has acquired insurance brokers The Insurance Partnership in a deal worth up to £15.5m.

Jelf will pay £8.9m in cash for the firm followed by £3.1m in shares by new issuance and a deferred payment of up to £3.5m based on future performance.

The latest acquisition follows the purchases of Howell Shone Insurance Brokers in January and The Purple Partnership in February.

Jelf group chief executive Alex Alway says: “During the course of negotiations we have realised just how culturally aligned our two businesses are. We firmly believe we have built one of the most professional and consultative insurance broking firms.”

The AIM-listed firm also published its half year results to March 31 this week. The accounts show revenue increased by 1.9 per cent to £35.9m, compared to £35.2m in the same period last year and operating profit grew 12.5 per cent from £1.6m to £1.8m. 

Protection Review co-chairman Andy Couchman says: “Strategically now is a good time to acquire insurance brokers. It looks like another shrewd buy from Jelf.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com