Acrisure snaps up UK specialty dealer Russell Scanlan

American insurance coverage brokerage agency Acrisure has continued its shopping for spree with the takeover of UK impartial specialty dealer Russell Scanlan.

Russell Scanlan, which was based in 1881, advises on all forms of business insurance coverage for companies of all scales throughout a number of sectors, together with for personal shoppers.

The British agency’s crew will be a part of Acrisure’s world community and get entry to the corporate’s synthetic intelligence programs and expertise.

The deal, whose monetary phrases haven't been revealed, is anticipated to conclude within the close to time period following the receipt of regulatory approvals.

Commenting on the deal, Acrisure UK Retail president Mark McIlquham mentioned: “We're excited to work collectively to proceed to develop what has been a implausible enterprise since inception greater than 140 years in the past.

“We now have loved attending to know the administration crew and have been impressed by their dedication to their shoppers and their enterprise. We're dedicated to preserving and including to Russell Scanlan’s legacy, tradition, values, and employees by way of the assets we will provide and our non-disruptive mannequin.”

 As part of the deal, the present administration crew Russell Scanlan will proceed to handle the enterprise.

Moreover, the acquired agency will proceed to function below the Russell Scanlan model.

Russell Scanlan managing director Bryan Banbury mentioned: “Acrisure demonstrated detailed understanding of the Russell Scanlan model and the repute that it carries within the business from our earliest discussions and now, the assist that now we have in place gives us with added power and confidence to proceed with development and enlargement plans, while remaining at each stage, a enterprise firmly centered on customer support.”

Acrisure, which is on an acquisition spree, has accomplished or has below letter of intent 100 acquisitions.

Final week, Acrisure acquired tech-driven US insurance coverage company QuickInsured.

Previous to that, it acquired British MGA Volante World, Spain’s Summa Insurance coverage Brokerage, and Appalachian Underwriters.

The corporate not too long ago raised $725m in Collection B-2 Most popular Fairness spherical at a valuation of $23bn.

Acrisure additionally revealed that it plans to make extra acquisitions within the UK in addition to forge new partnerships in close to time period to spur development.

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