British insurance broking and financial services group Jensten Group has agreed to acquire Glasgow-based broker Kelvin Smith Insurance, subject to regulatory approval.
Jensten Group said the deal was part of its ongoing strategy to expand regionally and further develop its Scottish operations.
The acquisition will add 30 staff, an established Glasgow office and more than 3,000 clients to its business.
Kelvin Smith Insurance was established in 1982 and manages gross written premium (GWP) of £22 million. The broker operates around commercial insurance, fleet risk and SME clients, while also offering specialist personal insurance products, including coverage for high net worth individuals.
The deal also strengthens the company’s recently established Scotland region, which was developed through earlier acquisitions of Broker One and NC Stirling. Jensten Group said bringing the three businesses together will enhance its regional capabilities by combining local knowledge, experienced teams and established client relationships under a single Scottish business.
Stephen Travers, Managing Director at Kelvin Smith Insurance, commented: “Joining Jensten is a fantastic opportunity for us to further grow our business in Scotland. Jensten is a natural choice for us to start our next chapter and we are excited about the new opportunities this partnership will bring for our staff and customers.”
Robin Thomson, managing director at Jensten, added: “This acquisition marks a major milestone as we continue to build scale and capabilities in Scotland. Kelvin Smith is a well-respected business with strong value and deep market expertise. Together with Broker One and NC Stirling, their addition brings real momentum to our Scotland region and provides a strong foundation for sustainable regional growth.”
Gareth Birch, chief executive of brokerage at Jensten Group, said: “Our ambition is to build a regionally strong, locally-led business with the scale and support of a national group behind it. Scotland is a key strategic focus for Jensten and together with Broker One, NC Stirling and now Kelvin Smith Insurance we have brought together great teams who all share our customer-first philosophy and development philosophy.”
