Jelf to acquire Scotland’s largest independent insurance broker

Jelf, a consultancy specialising in insurance, risk management and employee benefits and part of Marsh, a global insurance broking and innovative risk management solutions, has announced that it has reached an agreement to acquire Clark Thomson, Scotland’s largest independent insurance broker.

Established in 1965, Clark Thomson is headquartered in Perth and has offices in Dundee, Glasgow, Inverness, Kirkwall, Oban, Elgin, Thurso, and Nairn.

With over 200 employees, the firm provides insurance broking services to small and medium-sized (SME) businesses, with particular expertise in the agriculture, renewable energy, food and drink, and retail sectors across Scotland, as well as providing personal lines insurance for individuals and families.

Jelf 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.

On completion, Jelf, which has offices in Aberdeen, Bellshill, Dumbarton, Edinburgh, Forfar, Glasgow and Stirling, will combine its existing Scottish operations and Clark Thomson into a single business unit.

The combined business will, subject to regulatory approvals, be led by Ben Bailey, managing director of Clark Thomson, and a management team drawn from across Clark Thomson and Jelf.

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.”

Clark Thomson MD Ben Bailey added: “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.”

The transaction is expected to close in the second quarter of 2018. Terms were not disclosed.