BEAM Insurance Solutions has expanded its footprint in the Midlands with the acquisition of KDH Insurance Brokers, as it aims to achieve £22 million in gross written premiums (GWP) by year-end.
The financial details of the transaction have not been disclosed.
Based in Bridgnorth, Shropshire, KDH Insurance Brokers has been serving clients for 19 years and manages £4 million in GWP. Specializing in commercial lines while also catering to private clients, the firm will continue operating from its existing location with its six-member team intact. This acquisition elevates BEAM’s total controlled GWP to £20 million.
This move aligns with BEAM’s ongoing expansion strategy, which is backed by The Broker Investment Group (TBIG). TBIG, which acquired a majority stake in BEAM in August 2024, is actively supporting its growth through acquisition sourcing, due diligence, and joint funding to establish a robust regional network of independent brokers.
BEAM has previously strengthened its portfolio with the acquisitions of Andrew Phillips Insurance Brokers Ltd (AP Insurance Brokers) and Julie Price & Co Ltd, with further deals in the pipeline. The company now operates from four locations across the Midlands, providing tailored insurance solutions for sectors such as construction, property, manufacturing, engineering, accountancy, and medical malpractice.
Dave Clapp, CEO of The Broker Investment Group, emphasized the importance of the acquisition in accelerating BEAM’s expansion plans.
Additionally, Steve Faulkner, managing director of BEAM, underscored the strategic value of the deal in fortifying the company’s presence in the Midlands. Faulkner assumed the role of managing director following Dave Johnston’s appointment as chair of BEAM’s parent company, JPM Group, in August 2024.
