Acquisition of business of John Wason (Insurance Brokers) Ltd
02 January 2007
Jelf Group Plc, a leading corporate consultancy that specialises in providing commercial insurance, healthcare, employee benefits, wealth management and commercial finance, is pleased to announce it has acquired the commercial and personal books of business, and the trading name of John Wason (Insurance Brokers) Ltd.
John Wason (Insurance Brokers) Ltd is the Jelf Group's 8th acquisition in 9 months and will further develop both the Jelf Group's commercial insurance division and its position as one of the leading corporate consultancies in Southern England and Wales.
2006 has seen the Jelf Group treble the annualized volume of commercial insurance premiums placed with insurers on behalf of clients. The £4.5m insurance ‘book' gained through this acquisition will be added to this total. The fourteen staff from John Wason Insurance Brokers will also be joining the Group's office in Reading, while the founder, John Wason, will be retiring.
The deal will be funded by an existing bank facility with the Royal Bank of Scotland.
Commenting on the deal, Jelf Group Chief Executive, Alex Alway, says:
‘This latest deal continues our ambitious strategy to be the leading corporate consultancy in Southern England and Wales and emphasises the Jelf Group's credentials as the fastest-growing commercial insurance broking business in the South West. I am delighted to welcome John Beardmore and the team to the Jelf Group".
John Wason, retiring Managing Director of John Wason (Insurance Brokers) Ltd, adds:
‘Joining the Jelf Group creates an exceptional opportunity for our clients to benefit from an enhanced range of services and unrivalled expertise. Being part of a larger organisation will also offer John Beardmore and the staff enhanced career development prospects and greater security in a rapidly changing marketplace'.
Jelf Group
Alex Alway, Group Chief Executive
01454 272713
Phil Barton, Commercial Director
01454 272754
Pelham PR
Polly Fergusson
020 7743 6362
Philip Dennis
020 7743 6363