JMG Group ‘forging ahead’ with growth plan

A Yorkshire-based insurance broker is continuing its ambitious growth strategy after completing 20 acquisitions in 2024. 

Guiseley-headquartered JMG Group has announced plans to maintain its expansion drive into 2025 and beyond, with bosses saying the firm is in advanced negotiations with several businesses and expects to confirm new transactions in the coming months.

Nick Houghton, JMG Group chief executive, said: “For the past four years. we have been supplementing our strong organic growth through a series of targeted and complementary acquisitions.

“However, there remains a clear opportunity for us to further expand the group through strategic acquisitions in 2025, and we are forging ahead with plans to do so. 

“This is enabled by our position in the market as a high quality, nationwide, mid-tier broking platform.”

Founded in 2020 after a management buyout backed by private equity firm Synova, JMG Group is now one of the UK’s top 25 insurance brokers by gross written premium placed, which last year was in excess of £350 million.

The company has completed 46 acquisitions since its formation, expanding its team to more than 700 across 45 offices nationwide.

Leeds-headquartered law firm Gordons advised JMG Group on all of its 20 acquisitions last year, and has been retained to support on any new deals in 2025.

Duncan Firman, Gordons corporate partner, who leads the firm’s relationship with JMG Group, added: “We have developed a real partnership with JMG Group where we work seamlessly with their inhouse M&A, HR and regulatory teams.

“Working together, we have honed an approach to acquisitions that enables us to effectively support the JMG Group on multiple deals simultaneously.

“JMG Group has the strong track record, appetite and backing to further transform the UK insurance intermediary market.”

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