Broker takes over firm’s contracts

Nov 25 2009 by Sue Scott, Evening Gazette

A WEST Yorkshire insurance broker is planning to expand into Tees Valley after snapping up contracts previously owned by a failed Middlesbrough firm.

Leeds-based and family-owned J M Glendinning Group (JMG) has bought the goodwill of County and Regional from receivers BWC.

Under the agreement, JMG will take on contracts with up to 1,000 clients - some in Teesside - that generate an estimated £400,000 of primary income per year.

The company has taken on an extra member of staff to help service the North-east clients and plans to open an office in Tees Valley in the next 12 months.

Paul Glendinning, MD of JMG, said: “We have a ten-year plan to open 10-12 branches throughout the UK. We see the North-east as an integral part of that plan.”

He spotted an opportunity to grow the business after County and Regional went into liquidation. It is understood there are outstanding debts to be paid to creditors although the final amount is not known.

The Teesside firm, formerly based at Baker Street in Middlesbrough, provided commercial and private insurance services and had two staff. Both have been made redundant.

JMG has an annual turnover of more than £10m and recently opened a new office in Penistone, South Yorkshire.

Founded in 1972 by John and Joan Glendinning, whose son Paul is now md, the firm has around 45 staff and offers advice on financial planning, health, safety and employment law issues, commercial and private insurance, pensions, wills and mortgages.

Initially all clients will be looked after by the company’s Guiseley office.