Insurance distribution business Jensten Group has acquired broker Simpson and Parsons as it looks to expand its number of regional excellence centres, a statement released today (4 July 2023) said.
Lake district-based Simpson and Parsons specialises in the accommodation and hospitality businesses – it has developed products for hotels, guest houses, B&Bs, holiday homes and restaurants through its MGA InsureUK.
The deal will see the firm, which has offices in Windermere and Kendal, bring more than 20 staff and £9m in gross written premium (GWP) to Jensten.
As part of the acquisition, Simpson and Parsons will also become its sixth regional centre of excellence – it will be based in the northern reigon and serve clients across Cumbria and the north.
Alistair Hardie, Jensten’s chief executive, said: “Simpson and Parsons gives us an additional regional centre of excellence as we focus on building a connected broker of scale.
“Our centres of excellence, whether regional or specialist, allow us to get close to our different client groups, building a comprehensive understanding of their needs.
“Having extensive underwriting and product capability as an integral part of our strategy means we are benefitting from our ability to build and distribute market-leading client propositions.”
‘Right partner’
Jensten Group has three divisions – Jensten Insurance Brokers, the Coversure Franchise network and Jensten’s wholesale division that includes Jensten Underwriting and Jensten London Markets.
Tim Parsons, chief executive of Simpson and Parsons, will remain with the business as regional managing director (MD) for the northern region, reporting into Jensten Insurance Brokers MD Robin Thomson.
Parsons said: “From the beginning, it was clear to us that Jensten were the right people to partner with.
“Their focus on our people, the cultural fit and the part we’d play in the wider strategy to grow gave us the confidence that joining the Jensten family was a fantastic next step for the business.”
