Jelf Group sees double with insurers' move to buy shares

Allianz Cornhill and Aviva have both bought stakes worth a total of 10.1% in broker consolidator Jelf.

In a joint statement, the three parties confirmed that Allianz Cornhill had purchased a 5% interest, and that Aviva had - on behalf of BNY Norwich Union (NU) Nominees - purchased a 5.1% interest, in the group. The broker's share price rose by 6p to 267p after the news.

Alex Alway, group chief executive at Jelf Group, said: "We are delighted that Allianz Cornhill and NU, two of the leading

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