Acrisure, a US-based insurance company, has broadened its footprint in the UK through the acquisition of FinCred and Global Broking Solutions (GBS).
This move strengthens Acrisure’s presence in southern England. Financial terms of the deals were not disclosed.
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FinCred is a specialist credit insurance broker and surety bond expert based in Sevenoaks, Kent.
The company’s global business reach is expected to complement the services offered by Acrisure and Sutton Winson, which is Acrisure’s largest acquisition to date in the UK.
Hannah Lyon-Wall is the managing director of FinCred. She has been at the helm since 2016 after a stint at Markel International.
In parallel, Acrisure’s acquisition of GBS extends its client base across Kent and East Sussex.
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By GlobalDataThe move aligns with the company’s acquisition of FinCred as it aims to establish three office locations in London, East Sussex and now Kent.
Acrisure UK Retail president Mark McIlquham said: “We are excited to continue our expansion in southern England with these two acquisitions, led by the world-class Sutton Winson team. Hannah is a proven leader with a phenomenal track record and a huge future in the industry. We are genuinely delighted to welcome her and the rest of the team onboard.”
Sutton Winson managing director Gareth Roberts said: “We are thrilled with the acquisitions of FinCred and GBS, and this is the beginning of something special we are building with Acrisure in the south. Acrisure will continue to support us in acquiring businesses with whom we can culturally align.
“We now control close to £70m GWP [gross written premiums] and expect that figure to surpass £100m within the next two years through a combination of organic and inorganic growth.”
The purchase of Sutton Winson was announced in October 2022 and completed in early 2023.
In March this year, Acrisure created a life and health business unit to bring together its market offerings by integrating partners specialising in life, disability, accident and health, enrolment services and employee benefits third-party administration services.
