Mon, 20 Oct 2025 | DIVISION SALE
Insurance broker JMG Group has continued to grow through strategic acquisitions, with the group’s latest deal seeing it acquire the insurance broking trade and assets of a Glasgow-headquartered group.
The acquisition will involve Taveo Group’s team of 14 brokers joining JMG Group subsidiary Grewnwood Moreland. Following the acquisition, the team will continue to operate from its existing offices in Glasgow and London.
The deal strengthens JMG Group’s commercial insurance operations, while further bolstering its presence in Scotland and the South of England. The integration adds further depth to the group’s regional capabilities as it continues with its M&A strategy.
Nick Houghton, JMG Group chief executive (pictured above, left), commented: “Taveo is a highly regarded business with an excellent reputation for client service. ”We’re delighted they’ve chosen to become part of the JMG Group and we’re looking forward to supporting their continued success with the tools and infrastructure to help them excel.”
According to Houghton, the deal reflects JMG Group’s commitment to supporting brokers with strong local reputations, adding that Taveo’s technical expertise and culture would make it a valuable addition to the group.
JMG Group’s acquisitive growth strategy targets high-performing independent regional brokers that have strong technical expertise and solid client relationships. Since a management buyout in 2020, JMG Group has completed more than 50 acquisitions.
The group, which is backed by private equity firm GTCR, set a new UK record for most acquisitions by a single buyer in one month. The firm completed six deals in September, including a triple acquisition of brokers in Scotland, the Lake District and the West Midlands.
While recent trends suggest that broker M&A activity in the UK may have peaked, JMG Group continues to take advantage of what remains a relatively fragmented market to diversify its portfolio, increase its scale and geographic reach and improve its client offering through acquisitions.
Read more about UK insurance sector M&A:
Insurance M&A: Is dwindling supply driving focus away from broker deals?
PE activity drives late Q3 surge in insurance broking M&A
This highly profitable South Yorkshire Independent Financial Adviser (IFA) firm boasts an impressive £150m in Funds Under Management and has been established for 15 to 20 years.
This ultra-high-net-worth business in London boasts an impressive portfolio size, with the average household managing over £1.75m, attracting valuable and profitable clients.
This established IFA firm in the West Midlands boasts £135m in FUM and is supported by a skilled team of advisers and back-office staff who ensure smooth operations post-acquisition.
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