Integro acquires London brokerage firm
The Integro Group Holding Company will merge its UK wholesale Christmas and retail business with Lloyd’s Professional, a London brokerage Tyser & Co., through the acquisition of Tykes Private Holdings’ main parent company, Hawkes Bay Holdings Ltd.
The terms of the transaction require the approval of the regulatory authorities and did not disclose.
However, Integro said that according to 260 employees on its website, Tysers’ annual premium is about 700 million pounds , which is the biggest acquisition to date and will create a doubling brokerage company. ”
The statement said that these companies have a complementary wholesale business, “this will provide opportunities to expand and strengthen business customer service.” The joint department will use the Tysers brand, led by Integro’s current head of the United Kingdom Wholesale Federation David Abraham and Jason Collins.
Tysers’ UK company team members will join Integro’s UK retail team, which will be run by Bob Pybus, Integro’s UK retail operations manager, and will use the Integro brand.
The statement said that Tysers chairman Christopher Spratt and non-executive director Peter Haines will join Integro’s UK board of directors. Further executive announcements will be released at a “just-in-time” time.
The statement said that Tysers was founded in 1820 and has four business groups: North American, International, Reinsurance, and Maritime and Professional, and “100% of colleagues own.”
The statement said that Integro was established in 2005 and owned by Odyssey Investment Partners L.L.C., providing aviation, entertainment and sports, marine and energy, transportation and logistics and other professional lines.
“Once this combination is completed, it will create a larger wholesale platform and still maintain its identity as a customer-centric and professional broker,” Mr. Collins said in a statement. “Customers will benefit from a wider range of products and reflect the broader skills base of the combined company.”
“In addition to their wholesale Christmas team, Tysers has brought a talented retail team that will enhance our ability to serve London corporate clients,” Mr. Pybus said in a statement.
Integro ranks 20th among Business Insurance’s largest brokerage list of the year, and its annual revenue is slightly higher than $100 million.