JMG Group acquired specialist insurance broker The Risk Factor in January 2026, continuing its strategy of building its national presence through targeted acquisitions of established UK insurance businesses.
The transaction added another specialist broker to JMG Group’s growing platform, supporting its wider expansion while preserving the qualities and expertise that had contributed to The Risk Factor’s success as an established business.
Capital & Trust supported JMG Group across key stages of the acquisition, providing strategic planning, regulatory insight, detailed analysis and process support throughout the transaction.
Supporting JMG Group’s continued expansion
JMG Group’s growth strategy has centred on acquiring established insurance brokers with strong client books and specialist expertise, enabling the business to progressively build a broader presence across the UK insurance market.
The Risk Factor aligned with this approach, providing JMG Group with an opportunity to further develop its platform through the addition of another established specialist broker.
For an acquisition-led strategy to deliver sustainable growth, however, adding businesses is only part of the equation. Individual transactions also need to align with the wider direction of the group and preserve the strengths that made the acquired businesses attractive in the first place.
The acquisition of The Risk Factor represented another step in that strategy, combining JMG Group’s ambitions for continued scale with the addition of an established business offering complementary specialist capabilities.
Capital & Trust’s role
Capital & Trust assisted JMG Group across key stages of the acquisition, helping the business evaluate the opportunity and progress the transaction in a structured and informed way.
Our support included strategic planning to shape the transaction approach and maintain alignment with JMG Group’s wider growth objectives, alongside regulatory insight into relevant insurance-sector and transaction considerations.
Capital & Trust also provided detailed analytical review of information central to the acquisition process and process support to maintain momentum and coordination throughout the transaction.
This combination of commercial understanding, regulatory insight and detailed analysis supported JMG Group as it progressed another transaction within its broader acquisition-led growth strategy.
Our perspective
The transaction illustrates an important principle behind buy-and-build and acquisition-led growth strategies: successful expansion depends on more than completing a succession of deals.
As insurance groups grow through acquisition, each business added to the platform needs to contribute to the wider strategic direction of the group. Client relationships, specialist capabilities and the characteristics that have made an acquired business successful can therefore matter alongside the additional scale it provides.
This becomes increasingly important as a platform develops. The objective is not simply to become larger, but to build a group of complementary businesses capable of creating greater value together.
For established brokers considering becoming part of a larger organisation, this also places importance on finding a partner whose growth ambitions are compatible with the existing strengths of the business.
JMG Group’s acquisition of The Risk Factor reflects this approach: using targeted transactions to progressively expand a national platform while adding established businesses that support the group’s wider strategy.
