Jensten Completes Acquisition of UK-Based One Broker Group

Jensten, the London-based independent insurance broking group, has now completed the acquisition of East Anglia, England-based One Broker Group, following approval from the UK regulator.

Its largest acquisition to date, the deal provides Jensten with a significant new regional centre of excellence in East Anglia, England, with offices in Norwich and Cambridge. It brings 115 staff and £60 million ($73.1 million) of gross written premium (GWP) to the business.

Financial details of the deal, which was first announced in September, were not disclosed.

One Broker Group services commercial and personal clients, with a focus on business, property and haulage. The business has built a wide range of specialist schemes with national distribution, including solutions for private ambulances, community led housing, community assets, thatched homes and classic cars. One Broker’s claims management offering for pallet networks sees some of the largest companies in the sector rely on the business to manage their losses.

Managing Director Sean Clark will continue to lead the business, which has successfully delivered strong year-on-year organic growth. The business also has a track record of successful acquisitions, which most recently saw Uttings Insurance Brokers acquired in 2022. CEO Robin Plaster will lead further M&A growth in the region, where One Broker is poised to continue to buy high-quality broking businesses.

“Jensten is a natural fit for our business as we move to the next stage of our growth. Early in our discussions with the Jensten leadership, it became clear that we have a shared view of the importance of looking after our people and providing excellent service to clients,” commented One Broker’s CEO Plaster, in a comment when the deal was announced in September. “Our established presence in East Anglia and specialist schemes add value to the Group. We are delighted to join Jensten and are excited about this next phase.”

Jensten has achieved substantial growth over the past two years through a number of strategic acquisitions, a fundamental part of its strategy to establish and grow specialist and regional centres of excellence. The business recently announced the expansion of its Yorkshire region with the acquisition of White Rose Insurance Solutions.

Previous announcements by Jensten in 2023 saw the business establish a Southern regional presence by acquiring three Coversure offices, followed by a regional centre in Cumbria and the North. The group has also continued to make strategic purchases of specialist brokers to complement its growing Specialisms business.

Following the successful acquisition of One Broker, Jensten will continue to invest in growing its presence in East Anglia, both organically and through acquisition, with further deals in the region to be announced imminently.

“The acquisition of One Broker highlights the strength of Jensten’s proposition to brokers contemplating a sale where a clear commitment to retaining a regional presence is important,” said Alistair Hardie, Jensten CEO, in a statement.

“One Broker is one of the outstanding regional assets in the UK broking sector, and we are delighted to welcome Robin Plaster, Sean Clark and the rest of the team to the Jensten family. We look forward to working with the team to achieve further growth in East Anglia,” Hardie said.

Source: Jensten Group