Brown & Brown (Europe) Limited has acquired 100% of the share capital of The CI Group Holdings Ltd, a specialist in trade credit insurance solutions.
Founded in 2000, CI Group offers credit insurance solutions for banks and commercial lenders through its technology platform, E-Bonded. The company also provides access to debtor insurance for UK SME businesses.
CI Group currently protects over £6 billion of trade turnover in the UK and internationally, serving clients with annual turnovers ranging from £250,000 to £250 million.
Following the acquisition, CI Group will continue to be led by its founder and managing director, Mark Toulmin (pictured above). He will collaborate with Steve Stennett, CEO of Xenia Broking, to further develop their platform and service offerings for lenders and SMEs.
Stennett highlighted CI Group’s expertise as a respected trade credit insurance broker with strong, long-standing relationships with commercial customers.
“I have been impressed by Mark’s entrepreneurial philosophy, long-standing relationships with commercial customers and track record of success over the past two decades. I’m really pleased he has chosen to commit his and the team’s future to Brown & Brown; the acquisition brings additional capabilities through the E-Bonded platform, which provides a connected ecosystem for lenders and SMEs, along with CI Group’s blue-chip lender customer base,” he said.
Toulmin also noted that the company had been seeking a partner to expand its success, with Brown & Brown at the right place at the right time.
“Discussions with Steve and his team were constructive from the outset, and it quickly became clear that CI Group’s future, and that of the team and our customers, will be substantially enhanced as part of Brown & Brown,” Toulmin said.
The transaction has received regulatory approval, and the financial details were not disclosed.
Recently, the brokerage has also announced that it is acquiring Netherlands-based broker Quintes Holding from the latter’s management ownership team and private investment firm Aquiline Capital Partners.
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