Amanda Edwards

Seventeen Group are pleased to announce the completion of two acquisitions this month.

Firstly, we have acquired Wisemans Insurance Services Limited based in Ashford Surrey. This is a general broker employing 9 staff and handling total premiums of £3.5M. The vendors have been known to Seventeen for many years and both parties felt strongly that there would be a good fit. Previously Seventeen have had no presence in West London and so our plan is to retain the Ashford
office and build the branch.

Secondly, we have acquired one of our Partnership Brokers – North West Risk Solutions based in Manchester. The team are strong on real estate and construction and so much of the business will fall within James Hallam’s Real Estate & Construction Division whilst MD Peter Stevenson will be a
great ambassador for the business in his role as business developer.

Seventeen Group CEO Paul Anscombe adds “we are delighted to welcome our new colleagues into the Group. This has not only extended our regional footprint but brought some great talent into our business”.

End of Press Release

For more information contact
Jackie Knight Head of Marketing and Media
T: 07824 486319
E: jackie.knight@seventeengroup.co.uk

The Motor Insurers’ Bureau (MIB) is transforming, moving its services to a new cloud-based platform called Navigate. Link here – Replatforming (mib.org.uk)

The first service to migrate is the Motor Insurance Database (MID), with all customer data moving to the new platform by 29 April 2024.

Important

From 22 April, the MIB will reach out to all policyholders who access the MID, sharing a link so you can set up your account on the new platform. To help prevent accessibility issues, please watch out for the email.

You will need to review and update your MID contact information immediately and those with inactive or locked MID user accounts will not receive a link.

Launch weekend

The migration takes place between Friday 26 and Sunday 28 April which means you will not be able to update records until the following Monday when you log onto the new platform.

Changes to user IDs

During the migration process, only one user ID per email address will be carried over, prioritised in alphabetical order. Users with multiple IDs will need to create new ones for additional users, each associated with a unique email address.

Support for your policyholders

To help prepare users for the transition, the MIB has created online training resources including videos and guides:

Policyholder Quick Start Guide
Policyholder User Guide

If you have any questions, please speak to your usual James Hallam contact.

Seventeen Group is pleased to announce its third acquisition of the year, Watford based Jannard Quadrant.

The business was owned by Stephen Sweden and Geoff Callaway, both of whom will remain and eventually move into Seventeen Group’s existing Watford office along with the wider Jannard Quadrant team. Total GWP amounts to £3.5M, comprised mainly of commercial business and including a strong Hotel book. Jannard Quadrant have for many years been strong supporters of Seventeen Group’s MGA subsidiary, Touchstone Underwriting.

Seventeen Group CEO Paul Anscombe comments:

“This was a natural acquisition for both parties. We have known the Jannard Quadrant team for many years, we are both based in Watford and there is an excellent trading relationship with Touchstone. The focus on ‘top end’ hotels also fits incredibly well with James Hallam’s specialism in the hotel sector. I am delighted to welcome the team on board”

End of Press Release

For more information contact
Jackie Knight Head of Marketing and Media
T: 07824 486319
E: jackie.knight@seventeengroup.co.uk

Seventeen Group are pleased to announce the appointment of Roy Standish to the board of broking subsidiary James Hallam with effect from March 2024. Having joined the business in 2019, Standish originally oversaw James Hallam’s Partnership Broker programme before subsequently taking responsibility for Insurer Relationships. Going forward, he will retain these responsibilities but additionally assist on broker M&A as part of James Hallam’s growth strategy.

Speaking about this appointment, Seventeen Group Chief Executive Officer Paul Anscombe adds:

“Roy has been a great friend of Seventeen Group for many years. We were delighted to invite him into the business back in 2019 and now onto the Board. Having previously worked for a major insurer, Roy is uniquely placed to work with our strategic insurer partners to ensure the best outcomes for our clients”.

Roy commented “I am absolutely delighted to be joining the James Hallam Board and look forward to working with our Distribution Partners as well as new acquisition opportunities. It’s a really exciting time as we drive our refreshed Distribution strategy and continue to grow, organically and through acquisitions. I’m really proud to be part of the James Hallam business and helping to build a long term future as a truly independent, specialised regional broker.”

End of Press Release

For more information contact Jackie Knight Head of Marketing and Media
T: 07824 486319
E: jackie.knight@seventeengroup.co.uk

Seventeen Group is pleased to announce our 2022 results.

Overall Group income rose by 19% from £31.2M to £37.2M and adjusted EBITDA increased by 34% from £4.8M to £6.4M. Four acquisitions were made in 2022 and when the full year impact of these acquisitions are taken into account our EBITDA increases to £7.6M.

Whilst acquisitions have long been part of Seventeen Group’s growth strategy, organic growth remains key. The broking subsidiary, James Hallam, has seen the Hospitality Division grow from £2M to £2.6M in the period and the new Events Team (established in late 2021) grew to £628K.

Touchstone, the Group’s MGA established in 2007, saw further growth in 2022 increasing revenue from £5.7M to £6.1M. Gross Written Premium for Touchstone exceeded £50M.

To support our M&A strategy, in 2022 we established a new funding structure with Ares. Whilst one off costs associated with the setup of the facility impacted the annual result, it has given us significant additional long-term financial strength to enable us to deliver our growth ambitions.

Our acquisitions in 2022 were:

CCRS – Commercial broker based in Glasgow with specialisms in Public Sector and Vehicle Dismantlers alongside general corporate business.

Broker Scotland – A Real estate focused broker also based in Glasgow

Bryce Smith & Partners – A High net worth and real estate broker based in West London

Torbay Insurance services – a Torquay based broker which adds to our existing

South West presence in Plymouth and Penzance

Income from the above acquisitions added £1.2M in 2022 and £3.6M on an annualised basis.

Commenting on the results, Group CEO Paul Anscombe adds:

“I am very pleased with the progress that Seventeen Group continues to make in a fast changing market. We have focused strongly on the underlying performance of the business as well as investing in new opportunities and acquisitions.

Our successful strategy of acquiring complimentary, entrepreneurial businesses has continued in the current year with the acquisition of Aim Insurance Services, Mint Insurance Brokers, McGregor Insurance Services and Kestrel Insurance all joining the group. Further acquisitions are expected to complete in the coming months. Our brand, culture and scale continue to attract the highest quality of talent through both acquisition and key staff hires”.