Credit: Sollange Brenis on Unsplash.

The Jensten Group has bought UK-based insurance broker Simpson and Parsons, establishing its northern regional centre of excellence.

Financial terms of the transaction have not been disclosed.

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Simpson and Parsons will be Jensten’s sixth regional centre and serve customers in Cumbria and the northern UK.

The acquisition, which has secured regulatory clearance, will add more than 20 employees and £9m ($11.44m) in gross written premiums (GWP) to the group. 

With offices in Kendal and Windermere, Simpson and Parsons focuses on the accommodation and hospitality sector. 

The broker offers specialised products for guesthouses, hotels, holiday homes, restaurants and B&Bs via managing general agent InsureUK.

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Simpson and Parsons CEO Tim Parsons will now hold the role of Northern Region regional managing director.

He will report to Jensten Insurance Brokers MD Robin Thomson.

Jensten Group CEO Alistair Hardie said: “Simpson and Parsons gives us an additional regional centre of excellence as we focus on building a connected broker of scale. 

“Having extensive underwriting and product capability as an integral part of our strategy means we are benefitting from our ability to build and distribute market-leading client propositions.”

Jensten has three units, namely Jensten Insurance Brokers, the Coversure Franchise network, and Jensten’s wholesale division.

The company has been on an acquisition spree in recent times, which includes the purchase of the Coversure Poole Group last month.

In March 2023, it also closed the acquisitions of Basil Fry & Company and Bellegrove.