Deal Demonstrates Continued Consolidation Across The Insurance Sector
Irwin Mitchell’s Birmingham corporate team has advised insurance broker, The KGJ Insurance Services Group Limited, on its sale to global business NFP.
KGJ is a significant commercial insurance broker with 55 staff working from its Wolverhampton office, while NFP is a leading global insurance broker with offices throughout the United States, Canada, Europe and Puerto Rico.
The deal strengthens NFP’s market position in the Midlands region and expands its expertise for clients across Europe, especially in the marine sector.
The KGJ leadership team of Richard Cox, Darren Hollinshead and Lyndon Hollinshead will continue to work in senior leadership roles and remain fully engaged in the growth of the business.
Corporate partner, Nick Dawson, associate solicitor, Matt Smith and, solicitor, Tom Wisniewski advised the shareholders of KGJ on its sale to NFP, supported by colleagues in Irwin Mitchell’s real estate, employment and tax teams.
Expert Opinion“We have worked with the team at KGJ for some time and were delighted to assist them with the sale of the business to NFP. This deal sees two highly respected brokers join forces, bringing KGJ into a successful global business, and strengthening NFP’s position in the Midlands and Europe. We are continuing to see consolidation across the insurance sector as firms consider their strategic options for the future.” Nick Dawson - Partner
John Paul Allcock, UK and Ireland managing director at NFP, commented: “We are delighted to welcome Richard, Lyndon and Darren, and the whole KGJ team, to the NFP family. KGJ’s established wholesale brokerage operation is highly respected by its network of brokers and the team has built a first-rate business providing best-in-class service to clients.”
“The KGJ merger continues the momentum of our strategic expansion throughout the UK,” continued Matt Pawley, NFP’s managing director in Europe. “The business has a management team with decades of experience and expertise and this engrained knowledge will enable NFP to deliver increased value to clients regardless of industry, size or coverage required.”
Richard Cox, director at KGJ, commented, "We’re looking forward to joining forces with NFP, collaborating on the services we can offer both our clients, and creating opportunities for our team to grow and prosper. We were impressed by NFP’s customer-centric approach to business and how their values align with KGJ’s longstanding principles. We’re excited to work together and continue to build a thriving business.”