Seventeen Group has today announced its acquisition of Mint Insurance Brokers Limited, marking its third deal of 2023. The deal was completed on August 3.
Mint, a City of London-based brokerage, places retail and wholesale business within the London Market, handling a broad range of clients. Its specialisms include professional liability, real estate, casualty/contract works, and medical malpractice.
The business, which brings a GWP of £13 million to Seventeen Group, is headed up by MD Brian Bendle and Manjit Gill along with director Oliver Wharmby. Mint has been an AR of Seventeen Group’s broking subsidiary James Hallam since 2020.
Commenting on the deal on behalf of the Mint team, Bendle said the business is delighted to complete the transition from partner to division of Seventeen Group, and noted the mutual benefit of the acquisition for both companies.
Seventeen Group CEO Paul Anscombe also commented on the deal and said: “Brian and Manjit have been known to us for many years and so this is a very natural progression of our relationship. The Mint team brings a huge amount of experience and relationships into the group and will specifically help us build our London Market presence. Their specialist areas are also incredibly complimentary to our own.”
Anscombe highlighted Seventeen Group’s previous acquisitions in 2023 – comprising its purchase of Aim Risk Services Limited and McGregor Insurance Services Limited, both on the South Coast of England.
“Seventeen Group continues to grow both organically and via acquisition,” he said. “The number of broker transactions in the UK is falling as the number of brokers reduces but there is still a considerable number of firms who want to sell and want to go to a true independent non-private equity-based business where there is a long-term future. We are a firm owned and run by insurance brokers and that is proving to be appealing to a growing number.