Seventeen Group strikes third M&A deal

3 mins read
Congratulating a leader

Seventeen Group has officially announced its acquisition of Mint Insurance Brokers Limited, marking a significant development as the third successful deal executed by the company in 2023. The acquisition process was concluded on August 3.

Mint Insurance Brokers, headquartered in the City of London, operates as a brokerage entity specialising in both retail and wholesale segments within the London Market. The firm handles a diverse portfolio of clients and has a focus on various specialties, including professional liability, real estate, casualty and contract works, as well as medical malpractice.

The acquisition of Mint Insurance Brokers adds a Gross Written Premium (GWP) of £13 million to the overall capabilities of Seventeen Group. The leadership team at Mint, consisting of Managing Directors Brian Bendle and Manjit Gill, along with Director Oliver Wharmby, successfully guided the company through this transition. It is noteworthy that Mint has operated as an Appointed Representative (AR) of Seventeen Group’s subsidiary, James Hallam, since 2020.

Brian Bendle, speaking on behalf of the Mint team, expressed the company’s satisfaction in completing the transition from a partner to becoming an integral division of Seventeen Group. Bendle emphasised the mutually beneficial nature of the acquisition for both organisations.

Seventeen Group’s CEO, Paul Anscombe, also shared his perspective on the acquisition. He highlighted the longstanding connection with Brian Bendle and Manjit Gill and described the acquisition as a natural progression of their relationship. Anscombe underlined the wealth of experience and industry relationships that the Mint team brings to the broader group. He further pointed out that Mint’s specialised areas of focus synergise exceptionally well with Seventeen Group’s own expertise.

Anscombe reflected on the company’s previous successful acquisitions in 2023, specifically mentioning the incorporation of Aim Risk Services Limited and McGregor Insurance Services Limited, both located along the South Coast of England.

He stressed that Seventeen Group is experiencing steady growth, driven by a combination of organic expansion and strategic acquisitions. Anscombe acknowledged the evolving landscape of broker transactions in the UK, noting a reduction in the number of brokers while emphasising the continued demand for selling firms seeking a long-term future with an independent, non-private equity-based entity. He highlighted Seventeen Group’s unique ownership and operational structure, which appeals to a growing number of businesses seeking a reliable and committed partner.