The rapid expansion of Jensen Group continues at pace with the company today announcing a deal for Coversure Kidderminster for an unknown sum.
In a release announcing the acquisition, it was highlighted that the deal would bring 1,700 commercial consumers and nine staff to the group. The business is set to become part of Jensen Insurance Brokers and will be the base of the company’s regional presence in the Midlands.
“We hear about the huge costs of starting a new insurance broker and the increasing administrative and regulatory burden,” said Rob Organ, retail MD at Jensen Group. “These are the kind of barriers that have the potential to prevent people from launching a business. Coversure has something genuinely unique in the industry; a proven franchise model which supports experienced insurance professionals starting, where they own the business and the clients. With the support of our team, they create an asset of significant value. We’re seeing franchisees, like Coversure Kidderminster, exit at the right time for them, at the same time as we’re seeing new franchisees join with that same goal in mind.”
The original office began trading more than 30 years ago and is said to continue to attract franchisees. It is hoped that the group will open as many as 10 new offices across the UK this year.
“For experienced individuals looking to launch their insurance brokerage, the strength of the Coversure proposition is found in the lifecycle opportunity; launch and grow a brokerage with the support of an expert team and within a proven model,” said Rob, franchise director at Coversure. “When the time is right, sell the business and realize the value that’s been created. It’s essentially a business in a box for insurance professionals. We’re having more and more conversations with seasoned brokers who are looking to the future and asking themselves, why wouldn’t I consider this?”