JMG buys HGV and motor trade specialist New Era

The firm, previously an appointed representative of Gauntlet Group, will continue to trade as New Era, and brings a team of four and £2m of gross written premium to JMG.

The business will still be led by directors Ella Burgess and Nathan Pedley who set it up as the Covid-19 pandemic started in January 2020.

Route

Burgess said: “We had outgrown the appointed representative model, and were looking at routes to support our accelerated growth ambitions.

Bringing New Era into our group supplements will open up further opportunities for us in the wheels-based insurance arena.

Nick Houghton

“This sale gives us the best of both worlds – Nathan and I remain autonomous and client-focused, but with the added benefit of having access to a wider market and business security, as we move into the next development phase.”

Nick Houghton, JMG Group CEO, added: “The ability to start, and build a business from scratch through a global pandemic, is testament to the directors’ tenacity and resilience when faced with unprecedented challenges.

“It shows their strength of leadership and business acumen. Bringing New Era into our group supplements our existing experience in this specialist market, and will open up further opportunities for us in the wheels-based insurance arena.”

Double

JMG started the year snapping up Southampton-based Knightsure Insurance Brokers, and T I Alexander Insurance Brokers in Bo’ness, West Lothian,Scotland.

After these deals, Houghton told Insurance Age that having hit £200m GWP years ahead of schedule, the group was now targeting doubling

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