The Broker Investment Group has upped its investment in JPM Group, which is the holding group for BEAM Insurance Solutions. The move builds on the 49% stake BIG acquired in JPM in March 2023. BEAM controls gross written premium of £14m. BIG said it wanted to grow this to £20m in the next three years.

Dave Clapp (puctured), CEO of The Broker Investment Group, said: “We are excited that we have been able to deepen our relationship with BEAM and take on a further shareholding. Steve Faulkner (strategic director) will move into the role of MD and lead the business post completion and will be supported by Sarah Cooksey (operations director).”

He added: “Dave Johnston will stay with the business post completion and move to the role of Chairman of the group, supporting the management team, and helping the transition.

“Having been a shareholder in BEAM for a few years now, it has been great to watch them grow, our increased shareholding last year was phase one of Dave Johnston’s plan, and I am delighted we have now helped him execute phase two.”

Johnston, chairman of JPM Group, said: “I wanted a plan that worked for my team as much as it did for me. TBIG supported my plan to bring my direct reports in as equity holders in the business eighteen months ago, and that was a great move forward. Having now worked closer with TBIG for a period, I am comfortable the time is right to sell my remaining holding.”