American insurance brokerage firm EPIC Holdings has agreed to an Integro acquisition. Therefore, it will buy the US operations of the insurance broker and risk manager for an undisclosed sum.
Integro, established in 2005, operates as a specialty insurance brokerage and consulting business. Its annual revenue stood at over $150m.
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Integro acquisition
The acquisition of Integro USA will boost EPIC’s diverse insurance distribution platform, especially in the areas of risk management and middle market.
As a part of the agreement, Integro’s 400 employees working across 22 offices in the US will join EPIC.
Integro USA serves entertainment and sports, risk management, specialty, middle market accounts and employee benefits consulting markets.
Integro North America operations president Marc Kunney said: “Joining forces with EPIC allows us to continue offering our clients the highest level of service and expertise, while providing depth and scale to further invest in our combined capabilities.”
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By GlobalDataEPIC Holdings president Steve Denton said: “EPIC and Integro USA fit together perfectly with common themes including a passion for client service and delivering specialty capabilities supported by actionable analytics.”
The transaction will complete by January next year.
EPIC making moves
EPIC Insurance Brokers and Consultants has also bought New York-based specialty insurance intermediary Vanbridge for an undisclosed sum.
Vanbridge offer services at the intersection of the insurance, private equity and hedge fund sectors. Furthermore, the deal includes the transfer of assets and employees of Vanbridge to EPIC.
EPIC CEO Peter Garvey said: “The team at Vanbridge has established their business as the innovative specialist serving the sophisticated needs of the alternative asset management industry.
“Having known Phil well for some time, I’m confident his strong relationships, depth of knowledge, and leadership, combined with our own expanding capabilities, will propel EPIC to a leadership position within this important segment.”
The combined entity will also operate under the name Vanbridge – an EPIC Company.
