The Jensten Group has acquired the Coversure Poole Group for an undisclosed amount. The business, which has offices in Poole, Weymouth and Croydon is a member of Coversure – Jensten’s franchise network. Founded 7 years ago by experienced insurance professional John Palmer, the business has seen rapid organic growth, supported by several acquisitions.
The business will join Jensten Insurance Brokers, with Palmer taking up the role of Regional Managing Director, continuing to lead the teams within the business. Poole will become Jensten Insurance Brokers’ fifth Regional centre of excellence, covering the South, extending Jensten’s retail regional footprint and ability to achieve further growth, both organically and by acquisition.
Commenting on the deal, John said: “7 years ago I took the plunge and started my own insurance brokerage. Coversure’s ‘business in a box’ model gave me the framework and support I needed to launch the business without worrying about getting bogged down by handling regulatory administration, managing client money, and performing all the other support roles provided by Coversure. The comprehensive package of back-office, insurer, and compliance services has allowed me to focus on looking after my clients and growing a successful business. Being backed by Coversure has enabled me to grow my business more quickly and to a much greater size than I could have managed alone.”
At the beginning of 2023, Jensten announced it expected to help 10 insurance entrepreneurs launch broking businesses this year within the Coversure network. Rob Organ, Retail MD, Jensten Group, commented: “John is a great example of what entrepreneurial insurance brokers can achieve with Coversure. The proven lifecycle model is attractive to individuals who are ready to start their own business, launching and growing a brokerage with the support they need, and when the time is right, selling the business and realising the value they’ve created – we describe it as a business in a box for insurance professionals. We’re seeing more and more people realise there’s a significant and realistic opportunity for them. At the same time, our wider ‘build and buy’ strategy is creating a significant pipeline of brokers, many of whom will choose to sell to us.”
