JMG Group has acquired BQI Insurance and its sister company, BQI Protection.
JMG Group’s acquisition of BQI Insurance expands its insurance portfolio, particularly in the construction, fleet, and liability sectors.
BQI Insurance was founded in 2006 by Andy Brown and Sean Quinn. The company specialises in providing services to the construction, fleet and motor trade.
The acquisition adds £25 million to gross written premiums and brings 46 new team members. The move expands JMG Group’s reach to London, Wellingborough, and Perth.
BQI co-founder Andy Brown says: “The investment is a great opportunity for our businesses to continue to flourish whilst retaining our identity. We never rest on our laurels; we want to be on the front foot and we believe partnering with JMG Group will give us the added competitive edge we desire. It offers a significant opportunity for our employees to grow their portfolios and develop professionally.
“JMG Group is an excellent fit for our business as it aligns with our family style and people focus, allowing us to do what we do best which is looking after our clients and winning business. We’re excited to collaborate, grow and learn from our colleagues across the group, which does not feel too large.”
JMG Group has also acquired BQI Protection, a personal cover, business protection and employee benefits insurance broker. It was established in August 2018 by Andy, Sean and Malcolm Robertson, who holds a 50% stake in the venture. Under Malcolm’s leadership, the team is expanding through recruitment, broadening the range of insurer options, and experiencing notable revenue growth. Malcolm says: “Being a part of JMG will provide a tremendous opportunity for the group to leverage the advice and products we can provide, fostering substantial growth for all involved.”
JMG Group CEO Nick Houghton says: “Andy and Sean have built a great business and absolutely share our obsession with organic growth and data. Welcoming Malcolm on board will also bring valuable expertise to the wider group. To have an opportunity to invest in the team and help them continue their growth and success is a real privilege, and one I’m looking forward to being part of. A big thank you must go to Andy and Sean for approaching us when they were thinking about their next chapter.”