The Blog Spot: An exciting return to local focus

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Following reports of a rise in the number of start-up brokers, Ida Axling says it is great to see that the entrepreneurial spirit remains strong in the broking sector.

After years of aggressive consolidation in the broking sector, it is easy to wonder whether there will be any independent brokers left in ten years.

It may be an overly dramatic interpretation, but a quick search tells me the team at Insurance Age has written 73 articles about deals in the UK broking sector so far in 2021. This is more than two per week.

In February, M&A experts IMAS warned that consolidators were running out of targets because there are few businesses left of a size and scale

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JMG in quadruple deal swoop

JMG has snapped up four brokers, adding additional expertise in high-net-worth, commercial, motor trade, technical and specialist consultancy services to the Yorkshire-headquartered group, Insurance Age can reveal.

FSCS gives first insight on increasing levy to £394m

The Financial Services Compensation Scheme has indicated its levy for 2025/26 will rise to £394m from £265m this financial year as it cited having lower surpluses to carry forward and offset bills – a factor that has benefited brokers for two years in a row.

Konsileo seals £8m fundraise

Top 100 insurance broker Konsileo has completed an £8m fundraise to accelerate its expansion across the UK, Insurance Age can reveal.

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