TBIG increases stake in Hathaway & Cope to 75%

West Yorkshire-based Hathaway & Cope provides specialist public and employers liability insurance, contractors’ all-risks and excess of loss insurance to retail insurance brokers.

TBIG originally took a stake in the MGA in October 2022. Under Dave Ransley’s leadership, Hathaway & Cope has doubled its gross written premiums to £6m by expanding the distribution network.

Ransely, managing director of Hathaway & Cope, remains at the forefront of the business moving forward.

Partnership

Ransley said: “I’m delighted to strengthen our partnership with The Broker Investment Group. Since our initial collaboration in 2022, the relationship has really blossomed, and we have worked really well together to increase distribution.”

He added: “Feedback tells us that it is our quick turnaround of quotes and general high levels of communication that make us stand out as an MGA, and we look forward to further cementing our strong relationship with TBIG and continuing our growth trajectory.”

Opportunities

Dave Clapp, CEO of TBIG, commented: “When looking for growth opportunities, it is important to back the right people. We were really impressed with Dave and his team before we took the initial investment in 2022 and working with them since has been a real pleasure.

“We are delighted to be increasing our investment in this business as we see the significant growth potential.

“Our MGA division is in a great place, and we look forward to continued success in the years ahead.”

Buys

TBIG has made a string of purchases this year.

In March, TBIG boosted its stake in Callaway & Sons Insurance Consultants, located in Chelmsford, Essex to 100%. In the same month, it upped its investment in Macclesfield-based chartered insurance broker PHP Insurance to 80%.

Its first deal of 2024 saw TBIG’s shareholding in Bedford-based broker Bullerwell Insurance reach 100% this January.

Later that month, TBIG backed its first start-up broker, Cheshire-based Insurance Connections, which is targeting clients ranging from sole traders and SMEs to multisite corporates.

TBIG also took a 49% stake in both Rotherham-based Jenkinson Insurance and Chesterfield-based Penk Insurance in February. Both businesses are commercial insurance brokers owned by the Jenkinson family, with total GWP in excess of £15m.