Xenia Broking Group has announced the acquisition of trade credit and financial and specialty risk teams from specialist insurance broker Parker Norfolk & Partners (PNP).

Xenia did not disclose the financial value of the deal, which marks the company’s entry into the financial and specialty risks market.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The acquisition of PNP, which is a Lloyd’s insurance broker, is in line with Xenia’s goal of offering a range of credit, financial and specialty products.

Xenia Group CEO Tim Coles said: “This acquisition not only builds upon Xenia’s successful strategy of acquiring high-quality trade credit businesses but also marks the exciting first steps towards Xenia’s long-term strategic goal of becoming a diversified, international specialist broking group, providing a broad range of expertise and innovative solutions for our clients.”

The deal marks the sixth acquisition by the Xenia, which is a UK-based independent trade credit and surety insurance specialist.

It brings two business units and five brokers into Xenia Group.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Parker Norfolk & Partners financial and specialty risks head Richard Bishop said: “Having spent the past three and half years building a strong portfolio of clients, this acquisition represents an exciting opportunity for us and is great recognition for all we have achieved to date, particularly given the challenges the business has faced during the global pandemic.

“We look forward to working closely with Tim and the team to make Xenia one of the leading exponents of Credit, Financial and Specialty risks in the London Market.”

Earlier this year, Xenia brokered a deal to acquire the trade credit business of Credit Insurance Alliance.