Lloyd's broker AFL buys MGA Concordia stake in expansion move

Independent Lloyd's broker AFL Insurance Brokers has acquired a controlling stake in specialist employer protection managing general agency (MGA) Concordia Employment Services (Concordia).

London-based Concordia was launched in 2015 to support UK employers with managing risk and exposure resulting from workplace disputes. The business distributes its insurance products through brokers as well as direct to employers, with underwriting capacity provided by the London Market. Concordia’s other products and services include risk management tools, employment relations case management support and workplace investigations.

“The combination with AFL presents the perfect platform for our expanding businesses to continue to strategically grow and diversify into the MGA space, said AFL chairman Toby Esser. “At the same time, Concordia will retain its independence as an MGA, and operate as a separate entity.”

AFL CEO Bob Finch added: “The Concordia team are the epitome of a problem solving, client-first approach business. They have developed products and services for the specialist employer protection sector, offering real value and insight for their clients. This fits perfectly with AFL’s own ethos, our strong and growing retail presence and client base, and our unparalleled positioning with regards to innovation and technology progression.”

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