Jelf, a consultant that specialises in insurance, risk management and employee benefits, has agreed to acquire Clark Thomson, an independent insurance broker in Scotland, for an undisclosed amount.
Clark Thomson, founded in 1965, offers insurance broking services to small and medium-sized (SME) businesses and personal lines insurance for individuals and families.
It employs 200 people across its offices in Dundee, Glasgow, Inverness, Kirkwall, Oban, Elgin, Thurso, and Nairn.
Jelf, a subsidiary of Marsh, will merge Clark Thomson with its existing operations in Scotland to form a single business unit.
Ben Bailey, managing director of Clark Thomson, and a management team drawn from across Clark Thomson and Jelf will manage the new entity.
Jelf CEO Phil Barton said: “Through the acquisition of Clark Thomson, we are significantly broadening our geographic reach whilst also building on our capabilities in sectors that are vital to the Scottish economy, such as agriculture, food and drink, retail, and hospitality and leisure.”
“The transaction brings together two leading community brokers with well-established offices in complementary locations across Scotland. The combined business will offer clients a compelling proposition across a wide range of insurance, risk management and employee benefits services and solutions.”
The deal is expected to be wrapped up in the second quarter of 2018.