Brookfield will continue to run as a separate business, headed by CEO Leonard Münz. Credit: Rock Staar on Unsplash

Swedish insurance broker Säkra has strengthened its reach in the home market with the purchase of specialist insurance agency Brookfield Underwriting.

Financial terms of the deal were not shared.

Stockholm-based specialty MGA Brookfield focuses on high value homes, fine art, and jewellery.

Established in 2010, the insurer also has an office in Copenhagen.

It has capacity from international insurers, including Lloyd’s of London.

Säkra president and CEO Eva Pantzar Waage said: “The supplement means that we reach yet another strategically important milestone in our ambition to be able to offer comprehensive services in both the private and corporate market.

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“Together with Brookfield, we will be able to be a partner to our customers in even more matters.”

Brookfield will continue to run as a separate business, headed by CEO Leonard Münz.

Besides, the company will retain its own brand.

Insurance Advisory Partners (IAP) served as the exclusive financial adviser to Brookfield in the deal.

“We have a unique offer when it comes to special insurance for particularly valuable property. I look forward to continuing our growth journey within Säkra”, Münz noted.

Säkra serves private individuals, entrepreneurs and the public sector, offering them life and non-life insurance, pension, as well as and wealth management services.

The business has SME customer base of over 38,000 and more than 120,000 individual clients.

It has over 60 offices in Sweden and a workforce of 450.

Set up in 1990, the firm recently concluded its sale to private equity company Cinven.