Explorer DECODED
Previous edition: 15 May 2024
Share article
Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now
UK insurance group Jensten announces business restructuring
Jensten, a UK-based insurance broking and underwriting company, has unveiled a restructuring plan designed to foster growth and enhance the integration of its acquisitions.
The company is dividing its wholesale division, with the Jensten London Market business now reporting to the core broking trading division, led by Rob Organ.
David Skinner, managing director of Berns Brett, acquired by Jensten in October 2023, will oversee the London Markets division, including the London and South East region.
Jensten Underwriting, the group's MGA operation, will now function as an independent business unit, ultimately reporting to group chief executive Alistair Hardie.
This structural change is anticipated to provide a more focused approach to managing the MGA's operations.
Rob Palmer, previously Jensten's franchise director, will take on the role of director of distribution, reporting to Organ.
Palmer's new role will involve promoting Jensten's array of services such as network, wholesale broking and MGA products to both internal and external markets.
The restructuring aligns with Jensten's strategy for continuous growth and positions the company to capitalise on future opportunities.
Because of the reorganisation, Simon Taylor, managing director of wholesale, will be departing the company immediately.
Hardie said: “Over the past five years, we have transformed the MGA into a significant platform, and now it is time to push for a step change in growth. Our ambition is to triple the premium managed by Jensten Underwriting within the next four years.
“Rob has excelled as franchise director with the network achieving record-breaking premiums in 2024 and experiencing the highest influx of new members since its inception in 1986. I have the utmost confidence in Rob’s ability to excel in his new role.”
This announcement comes on the heels of Jensten's recent fundraising, where it secured £170m.
Additionally, Jensten expanded its scheme and affinities arm last month with the acquisition of Robert Gerrard & Co, a broker specialising in the life and escalator industry.
Latest news
Analysis: has OpenAI set a new industry standard in AI accessibility?
On Monday (13 May) OpenAI announced, during its Spring Update event, that ChatGPT would be made available as an app to download via the Google Play and Apple App Stores. A desktop version for Mac is also in the works and is due to be released, according to the company.
The Home Depot reports 7% decline in net earnings in Q1 FY 2024
The retailer’s sales totalled $36.41bn in Q1 FY 2024, a decline of 2.3% from $37.25bn in Q1 FY 2023.
VinFast pushing hard to grow global sales
VinFast focusing on Asia’s emerging battery electric vehicle (BEV) markets
bunq makes its GenAI assistant Finn fully conversational
bunq, the second largest neobank in Europe, has upgraded its user-facing AI assistant, Finn, my making it fully conversational. The challenger has also rolled out its worldwide one-time activation travel insurance, in partnership with embedded insurance provider, Qover.
ADNOC Drilling secures $1.7bn unconventional wells drilling contract in UAE
To explore future opportunities in unconventional resources, ADNOC Drilling has launched a new company, Turnwell Industries.
Australia commits A$7bn to tax incentive for critical minerals processing
The incentive aims to support downstream refining of critical minerals including lithium, cobalt, nickel and rare earths.
Circular RNA: Vaccines, therapeutics and biomarkers could be revolutionised
CircRNA is still in very early days of development, but it is expected to trialled in vaccines, therapeutics and biomarkers trials in the next few years.
Norway revises up 2024 defence budget in advance of 12-year overhaul
Norway will increase defence spending for 2024 by $1.2bn (Nkr12.91bn) in a revised national budget while a long-term plan is worked through parliament.
Construction begins on new Faifley campus in Clydebank, Scotland
Construction work has officially commenced on the new Faifley education and community campus in Clydebank, West Dunbartonshire, Scotland, with a ground-breaking ceremony.
Lino Saputo to step down as dairy giant's CEO as Carl Colizza named successor
Lino Saputo Jr. will relinquish his role as CEO at the Canadian dairy company that bears his name in August, a position he has held for more than two decades.
In our previous edition
Explorer Decoded
Customer satisfaction with US online-only banks declines
10 May 2024
Explorer Decoded
UK retail sales drop 4% in April 2024 amid poor weather
08 May 2024
Explorer Decoded
In data: defence M&A deals up 55% in Q1 2024
03 May 2024
Newsletters in other sectors
Aerospace, Defence & Security
Automotive
Banking & Payments
Travel and Tourism
Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries
Access more premium companies when you subscribe to Explorer