Review of the Year 2023: JMG Group’s Nick Houghton

Nick Houghton, CEO of JMG Group, reflects on the handsome multiples being paid for brokers and why he does not like the phrase ‘direction of travel’.

What has been your insurance/broking related highlight of 2023?

Growing the JMG team to 550 colleagues. I’m very proud of the growth and career opportunities we are creating.

What has been the most over-hyped insurance/broking buzzword or phrase of 2023?

I don’t like it when people use the phrase “direction of travel” - let’s keep our language clear and simple please.

What was the M&A deal or personnel hire that raised your eyebrows the most in 2023?

Without looking to fuel the Yorkshire stereotype

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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