Jelf has acquired Yorkshire-based insurance brokers Beaumonts Insurance Group for an undisclosed sum, extending the group’s network of offices across the north.
Beaumonts have offices in Leeds, Bradford, Shrewsbury and Doncaster, which will join existing Jelf Group offices in Hull, York, central Leeds and Manchester.
This “Northern powerhouse” will be responsible for nearly 45 per cent of all the group’s insurance business.
Beaumonts is their second major Yorkshire acquisition, after the group bought Hull-based The Insurance Partnership in June 2013.
According to the group’s results for year ended 30 September, the TIP acquisition helped push insurance earnings before interest up 69.3 per cent to £9.4m - from £5.6m in 2013.
All Beaumonts directors will stay with the business and will continue to trade from their existing offices.
Simon Bland, managing director of Beaumonts, commented that Jelf is the ideal partner for his firm.
“We share the same focus on client service and professional standards. Jelf will enable us to provide our clients with an exceptional range of products and services, whilst at the same time giving our staff additional opportunities for career development.”
Phil Barton, chief executive of Jelf Insurance Brokers, said the firm’s vision is to become the leading insurance broker in the UK.
peter.walker@ft.com
