The Jensten Group, the London-based independent insurance broking group, has acquired J. Bennett & Son Insurance Brokers, based in High Wycombe, England, and its Oxford-based subsidiary, Mathews Comfort & Co., for an undisclosed sum.
The deal is subject to regulatory approval.
The business primarily works with commercial clients locally and has a life sciences and biomedical field specialism, in addition to solutions for hot air balloon owners. J. Bennett & Son was established in 1908 while Mathews Comfort was founded in 1851 – with the two companies joining forces in 2017. The business employs 25 people across its two offices.
The deal, which brings £13 million ($15.7 million) GWP to the group, is the fourth announced by Jensten in as many weeks, having recently acquired Ravenhall, Origin UW and Coversure Nottingham.
“We are delighted to welcome J. Bennett & Son and Mathews Comfort to the Jensten family. This is a business with a significant history and a proven track record over many years of putting clients and staff first,” according to Alistair Hardie, Jensten Group CEO. “Jensten is completely aligned on these values, making this an excellent acquisition.”
Peter Sutcliffe, managing director of J. Bennett & Son MD, commented: “As some of us are reaching retirement we wanted to sell to a business who would continue to prioritise our clients and staff and recognise the value of our heritage and specialisms. Throughout the process, Jensten demonstrated their focus on all the core things that matter to us, and so were the obvious choice as the business moves into its next phase.”
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