11th January 2024

The Broker Investment Group makes first strike in 2024.

The Broker Investment Group has today completed a further investment taking its shareholding to 100% in Bullerwell Insurance a £12 million GWP broker based in Bedford.

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

“I am absolutely delighted to have completed on our first acquisition of 2024, the growth and success of Bullerwell as a leading regional broker over the last five years has been phenomenal.

The chance to increase our shareholding to 100% was an opportunity I jumped on. Having got to know Dean and Damon over the last few years, I have seen first-hand their drive and professionalism and the results they have delivered with their team have been first class.

Dean and Damon and the rest of the senior team will remain with the business in their current roles and help us drive further growth in the years to come.”

Dean Oldham, Bullerwell Insurance

Dean Oldham, CEO of Bullerwell Insurance, commented:

“Having worked with The Broker Investment Group for many years and watching closely their huge activity in the last 2 years, we felt Bullerwell were closely aligned on mutual aspirations. This transaction enables us to get some just reward for the hard work we have put in, but also enables us to remain in situ and continue to run the business day to day with the support of the wider TBIG team.”

Damon Blakey, Bullerwell Insurance

Damon Blakey, Managing Director of Bullerwell Insurance added:

“I am excited by the opportunities that will be presented, TBIG holding a 100% stake in Bullerwell will allow me to continue the growth of the business by maintaining our commitment to excellence in service and advice to clients. I am also looking forward to helping the Group develop a first-class corporate solution for larger clients with complex needs.”

Andy Roden, The Broker Investment Group

Andy Roden, The Broker Investment Group CEO of Retail concluded:

“To bring a business of this size into our partnership model is fantastic with our insurer partners keen to support their continued growth and we believe the future is very bright for all the team at Bullerwell.

We currently have another four sizeable transactions in due diligence which we hope to complete on in the next few weeks, with our pipeline so healthy it will hopefully be another huge year for us on our growth journey.”

2023 round up – A real alternative to traditional consolidation

The Cullum and Clapp partnership has overseen 10 investments in the last 12 months, fresh on the back of 10 investments in 2022.

With a mixture of organic growth and 20 acquisitions – either new acquisitions or increased stakes – has seen £60m GWP added to The Broker Investment Group, and they are still on track to hit £250m GWP by the end of 2024.

With a number of other businesses in due diligence we are looking forward to a very productive year ahead.

The Broker Investment Group are the true human face of an ambitious growth strategy that offer UK Insurance Brokers a true partnership model for those considering selling part of their business for succession planning or turbo charging their growth aspirations.

As some examples, TBIG have helped The Needham Group, Mark Richard Insurance and Hallsdale Insurance with complete rebrands in 2023.

With the exciting new MGA division already writing new business for TBIG brokers, 2024 promises to be another exciting year for all existing partner brokers and we wish all insurance brokers a very prosperous 2024.

Dave Clapp, CEO, The Broker Investment Group

Peter Cullum CBE, Chairman, The Broker Investment Group


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