The sale of Kentro Capital Limited to Brown & Brown, Inc. has been finalised.
“This is a pivotal milestone in the story of the Kentro Group,” Colin Thompson, group chief executive of the acquired business, said in a release. “Coming together with Brown & Brown will serve as a business enabler and a catalyst for continued success for our Kentro colleagues, customers, and capacity providers. We are very excited to join their dynamic team.”
Headquartered in the UK with offices in the US, Europe, and Asia, Kentro is the name behind Nexus, Xenia, Millstream, Capstone Brokers, and Spectrum Risk Management. The group manages more than £500 million of gross written premium and consists of nearly 400 colleagues.
Commenting on the deal completion, Brown & Brown Europe CEO Mike Bruce said: “We are very excited to welcome Kentro to the Brown & Brown team.
“The opportunity to collaborate with Colin and our new Xenia and Nexus teammates while adding their unique capabilities to our already robust service offerings will further strengthen our presence in the UK, Western Europe, and the US, as well as position us for continued growth.”
The Kentro development comes hot on the heels of Brown & Brown’s swoop for UK brokerage Berkeley Insurance Group.
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