Insurance coverage brokerage firm Brown & Brown has concluded the takeover of UK-based insurance coverage trade group Kentro Capital.
In Could this yr, Brown & Brown signed an settlement to accumulate Kentro Capital.
Each events didn’t disclose the monetary phrases of the deal.
With the conclusion of the deal, Kentro Capital will turn out to be a part of Brown & Brown’s European operations.
Established in 2008, Kentro manages gross written premiums value greater than £500m ($610.99m).
With a workforce of greater than 350 insurance coverage specialists, the corporate operates from places of work throughout the UK, US, Europe, Asia and Dubai.
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Brown & Brown Europe CEO Mike Bruce stated: “We’re very excited to welcome Kentro to the Brown & Brown staff.
“The chance to collaborate with Colin and our new Xenia and Nexus teammates whereas including their distinctive capabilities to our already sturdy service choices will additional strengthen our presence within the UK, western Europe and the US, in addition to place us for continued progress.”
The Kentro Group in addition to every of its enterprise models will function as regular following the deal closing and shall be led by the identical management staff.
Moreover, Kentro Group CEO Colin Thompson will proceed to spearhead the enterprise and can work with the senior management staff at Brown & Brown.
Thompson stated: “Coming along with Brown & Brown will function a enterprise enabler and a catalyst for continued success for our Kentro colleagues, prospects and capability suppliers.”
Unfold over 500 areas globally, Brown & Brown gives threat administration choices to folks and companies.
The newest growth comes days after Brown & Brown (Europe) acquired UK-based insurance coverage dealer Berkeley Insurance coverage.