Jensten Group Completes Acquisition of London-Based Tasker Insurance Group

The Jensten Group has completed its acquisition of London-based Tasker Insurance Group, after receiving regulatory approval. The deal includes Tasker Insurance Brokers, Tasker & Partners and Gresham Underwriting.

Financial terms of the transaction, which was first announced in June, were not disclosed.

The acquisition brings an additional £50 million ($68 million) of gross written premium to the London-based Jensten Group, which now controls GWP in excess of £300 million ($414.8 million). Jensten operates a franchised and non-franchised broking operation that is supported by wholesale and underwriting capabilities.

Completion of the Tasker deal also sees Robert Organ take on the role of managing director, Jensten Retail, and Graeme Lalley, as COO of Jensten Group, with responsibility for technology and operations, business transformation, HR, and facilities. Both join the Jensten Holdings’ board, alongside Group CEO Alistair Hardie, Group Chief Financial Officer Ed Hannan, and Wholesale Managing Director Simon Taylor.

“Tasker is an excellent business and a strong strategic fit providing us with enhanced scale in each of our core business areas – retail insurance broking, Lloyd’s and London Market broking and specialist underwriting. We are delighted to have completed the deal,” commented Alistair Hardie, Jensten group CEO.

“Our innovative model for acquisitions, combined with the flexible proposition we offer to management, staff and clients, makes us an attractive alternative for high quality community brokers looking to find new investors,” he added.

The Tasker acquisition is the third this year for Jensten, following the purchase of Sydney Packett & Sons of Shipley, Yorkshire, England, and Advance Insurance Agencies, a specialist personal and commercial lines broker, based in Wiltshire, England. Both were purchased for an undisclosed sum in February.

Source: Jensten Group

Topics Mergers & Acquisitions London