15 March 2023Insurance

IGI insurance locks down Norwegian MGA partner in overdue M&A deal

Specialist commercial re/insurer  International General Insurance Holdings (IGI) finalised its plans to acquire a Norway-based managing general agency (MGA), which writes a portfolio of energy and construction business, as IGI works to expand its footprint in the Scandinavian markets.

IGI has had an exclusive arrangement with the Norwegian MGA Energy Insurance Oslo EIO since 2009, then talked greater integration in 2022. A final deal had been expected as early as the third quarter of that year.

IGI Chairman & CEO Wasef Jabsheh said: “We are delighted to welcome the EIO team to the IGI group. The successful completion of our acquisition of EIO allows us to expand the existing book of energy and construction business and leverage our relationships to broaden our presence in the Nordic markets across other business lines.”

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