Mark Richard Insurance, which is a subsidiary of The Broker Investment Group, has acquired a 75% stake in Portal Group. Portal was established in 2022 and is based in Tarporley, Cheshire. The commercial insurance broker manages gross written premium of £2m. Its existing managing director Jason Munnelly (pictured) will continue to lead the business following thew deal.

Amanda Nethercott, managing director of Mark Richard Insurance, said: “Portal has achieved impressive early growth, and with the backing of TBIG we look forward to supporting the next stage of their development.”

Munnelly, added: “This partnership gives us access to a broader panel of insurers and to valuable support across compliance, sales, systems, and marketing when required. All shareholders have retained a significant stake, and we’re excited to build on our strong foundations, support our existing clients, and continue our growth journey.”

The deal is TBIG’s sixth of the year. The deal boosts Mark Richard Insurance’s gross written premium to £14.5m and the broker said it wanted to push this above £20m by the end of 2028.