Midlands-based The Needham Group has snapped up PJ Insurance Brokers, which will continue to operate from its Petersfield and Weybridge offices.
“I am really pleased to have got this deal over the line in the first half of 2023, and we warmly welcome all staff and customers of PJ Insurance to the Needham family,” said Needham managing director Neal Lowe (pictured) in an emailed release.
“I’m delighted that Peter and Jacqueline [Robinson] are staying in the business. They are extremely knowledgeable insurance brokers, and this deal was a natural fit for us, which is always one of our top priorities. The brand, premises, and fantastic team of eight staff all remain.”
A £2.5 million gross written premium (GWP) business, PJ Insurance brings Needham’s GWP to more than £12 million.
The purchase, financial terms of which were not disclosed, is the ninth acquisition for Needham overall and the third since becoming part of The Broker Investment Group. Recent transactions include those with Baldersons Insurance Services and Corporate Insurance Solutions.
Lifting the lid on the swoop, Peter Robinson shared: “I have followed The Needham Group in the Press for a few years and had heard positive feedback from previous acquisitions, so they were top of my list when it came to succession planning.
“I know my clients and staff are in safe hands, and I’m staying on to assist my clients and mentor the next generation of leadership within PJ Insurance. I look forward to working with Neal and his team going forward, and our clients will enjoy an even wider range of insurance products and schemes.”
Lowe, meanwhile, added that they are looking for other like-minded insurance brokers, with a view of creating a network of community-based brokerages catering to local communities.
