30th March 2023

The Broker Investment Group increases partnership with BEAM Insurance


With effect from 20th March 2023, The Broker Investment Group has increased its partnership with Midlands based BEAM Insurance, increasing their stake in the business up to 49%.

This follows the recent BEAM acquisition of Andrew Phillips Insurance Brokers Ltd (AP Insurance Brokers) and with a strong pipeline of future BEAM acquisitions, this increased investment will help back BEAM Insurance with their future deals, becoming a true Midlands acquisitions hub.

This support includes acquisition sourcing, due diligence, and joint funding.

The increased investment also elevates BEAM Insurance to “Plus” broker status with The Broker Investment Group, providing additional services as required such as compliance, marketing, accounting, and a bespoke professional development academy.

BEAM Insurance employ 35 people across 3 offices in the Midlands. A commercial insurance broker, they specialise in the construction, property, accountancy, and manufacturing sectors.

GWP is £13.75m with plans to grow to £20-25m by the end of 2025. Organic growth is 10% year on year and there are a further two acquisitions in the immediate pipeline, with ongoing discussions with several other insurance brokers.

Dave Clapp – CEO, The Broker Investment Group

Dave Clapp, CEO of The Broker Investment Group, comments:

“BEAM Insurance are a fantastic business, with a first class leadership team and knowledgeable staff, so we are really pleased to be further consolidating our long standing partnership with them.

Their impressive organic growth to date is testament to their expertise and high levels of customer service.

They remain in full control of the business but can lean on The Broker Investment Group when they see fit for any advice on strategy, hands on support for systems or joint funding for acquisitions.

We look forward to continuing our partnership with BEAM Insurance.”

 

David Johnston – Managing Director, BEAM Insurance

 

David Johnston, MD of BEAM Insurance, comments:

“We are delighted to have strengthened our partnership with The Broker Investment Group. We started this relationship back in August 2014 so we know them well, and they will help us achieve our objective of further acquisitions in the Midlands area, allowing other insurance brokers to become part of the BEAM family.

Our proposition to potential acquisitions is straight forward. We have no plans to change the brand, branch locations or the staff – simply to use the combined increased buying power and insurer capacity to deliver better insurance solutions to our clients.”

Author

Helen ONeill

Commercial Manager
Phone: 07980 292218
Email: honeill@ataraxia.co.uk