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Gloucestershire Business News

Insurance company to acquire Scottish broker

An insurance company with an office in Cheltenham is to acquire Scotland's biggest independent insurance broker.

Jelf, an award-winning consultancy specialising in insurance, risk management and employee benefits, has agreed to acquire Clark Thomson.

Clark Thomson has its headquarters in Perth and offices across Scotland. With over 200 employees, it provides insurance broking services to SMEs, with particular expertise in the agriculture, renewable energy, food and drink, and retail sectors across Scotland.

Jelf, which has its headquarters in Chipping Sodbury, is one of the UK's leading insurance brokers for mid-size and SME companies, with almost 3,000 colleagues serving over 250,000 clients from over 75 locations.

Once the deal is complete, Jelf will combine its existing Scottish operations and Clark Thomson into a single business unit.

Phil Barton, CEO of Jelf, said: "This is a highly significant transaction that underlines Jelf's commitment to building the leading community based advisory business across the whole of the UK. Through the acquisition of Clark Thomson, we are significantly broadening our geographic reach, whilst also building on our capabilities in sectors that are vital to the Scottish economy, such as agriculture, food and drink, retail, and hospitality and leisure.

"The transaction brings together two leading community brokers with well-established offices in complementary locations across Scotland. The combined business will offer clients a compelling proposition across a wide range of insurance, risk management and employee benefits services and solutions."

Ben Bailey, managing director of Clark Thomson, said: "This deal is great news for our clients and colleagues alike. Through Jelf, our clients will have access to a wider range of services and solutions, while colleagues will benefit from being part of Marsh's wider global network. I look forward to bringing Jelf and Clark Thomson's operations together, and building the leading advisory business in Scotland."

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