It is the first acquisition Castle has made since becoming part of Global Risk Partners (GRP)
The new buy adds £90m of gross written premium to Pen, says statement
The news comes as Tech Nation prepares to cease operations following its funding being withdrawn
’This increased investment will help back Beam with their future deals,’ says statement
’I’m excited to combine our wealth of knowledge,’ says managing director
The partnership was formed in response to the increased demand from international insurers to boost digital underwriting capabilities
’We knew instinctively it was a very good match,’ says Castleacre director
Being ‘employee-owned means that we are ready to scale up,’ says chief operating officer
There is ’increased saturation in the UK and Irish markets’, warns FTI Consulting
Chief commercial officer reveals that the intermediary organisation is aiming to complete 12 acquisitions in 2023, with plenty of transactions closing in Q1 and Q2
The acquired team specialises in providing cover to the likes of colleges and schools
The group’s deputy chief executive hopes the deal will add ‘tremendous value’ to its mid-market capability
The group’s chief executive believes the move will ‘open up further opportunities’
Last year’s private equity investments and broker consolidation caused hikes in aggregate brokerage across this year’s top 50 brokers – but will this be repeated in 2023?
The agreement will support transport operators across the UK
The ‘expertise’ of the new AR will expand the broker’s capabilities in the sector
The newly acquired business will become part of the firm’s Global Programmes practice group
The transactional risk insurance market is expected to ‘grow’ in 2023 as firms grasp the oppurtunity to meet international demand
The intermediary’s chief executive notes that Howden Group has become the ‘natural home for insurance industry entrepreneurs’
The deal will provide the acquired group with ‘scale and even more opportunities’, says chief executive