Following the recent acquisitions of The Insurance Partnership and Beaumonts Insurance Group in Yorkshire, Jelf has turned its acquisition attention to the London region, acquiring Watford based insurance brokers, Libra Insurance Services Ltd.
Libra is firmly rooted in North London. It was founded over 40 years ago by the father of the existing Directors, Rex and Shailain Shah, who will both remain in their roles, operating out of their existing offices. Both taking an active role in the local area, the brothers have over 60 years’ experience with the business.
Jelf’s acquisition strategy is built on buying good local broking businesses with strong client loyalty, on keeping the people, and on providing them with the products and services to significantly enhance their propositions to clients without losing their local character and community feel. This acquisition further extends Jelf’s network of offices in the South. The aim is to use this acquisition as a hub for further acquisitions in North London and the Home Counties.
On announcing the news, Jelf’s Chief Executive, Alex Alway, said: “This is a strong acquisition for Jelf, it’s the latest example of our proven track record of acquiring quality local businesses. We actively seek businesses who share our passion for exceeding client expectations and for serving local communities – Libra absolutely share this passion. When we acquire a business we don’t seek to change it, we simply enhance and extend the range of products and services to allow the team to deliver real benefits to their clients. I am delighted to welcome Rex and Shailain to Jelf.”
Rex and Shailain Shah, Directors of Libra, jointly commented: “Libra was founded by our father over 40 years ago, so entering into discussions with Jelf was not something we undertook lightly. However, from the start we met like-minded people and we have never doubted that Jelf will enable Libra to continue to grow, whilst still preserving the heritage and personal service that is so important to us and our clients. We are excited about the wider range of products and services that we can now offer to clients and pleased that our staff will benefit from the enhanced career and development opportunities that Jelf presents to them.”
With effect from today Libra Insurance Services Ltd will trade as ‘Jelf Insurance Brokers (incorporating Libra Insurance Services)’.
Key facts about the Libra business:
- Turnover c £1.3m
- GWP c £6.5m
- Single office in Bushey (Hertfordshire, near Watford)
- Employees: 18 people (including Directors)