Integro acquires Tysers, merges operations
US-based Integro Insurance Brokers is acquiring 100 percent of Hawkes Bay Holdings (HBH), the privately-owned principal parent company of Lloyd’s accredited broker Tysers.
In addition, Integro signed an agreement to merge its UK wholesale and UK retail operations with Tysers.
The move demonstrates Integro’s commitment to expand into specialist insurance markets while doubling the scale of the business, according to a statement.
Integro and Tysers have complementary wholesale capabilities, which will provide opportunities to expand and enhance the business client offering – with new solutions and expanded geographic coverage, the company said. The combined wholesale business will trade under the Tysers brand and be led by Integro’s current co-heads of UK wholesale, David Abraham and Jason Collins.
Tysers’ UK corporate team members will join Integro’s UK retail team, overseen by Bob Pybus, Integro’s head of UK retail and trade under the Integro brand. Christopher Spratt, chairman of Tysers, and Peter Haynes, non-executive director, will be joining Integro’s UK Board.
The broader management team will be made up of a combination of the existing Integro and Tysers management teams.
“This combination, once completed, will create a significantly larger wholesale platform that still retains its identity of being client-focused and a specialist broker,” Collins said.
“Clients will benefit from an enhanced range of products reflecting the broader skill base of the combined firms.”
Since it was founded in 1820, Tysers grew from a marine trade business to a specialist broker operating internationally in four practice groups, namely North America, international; reinsurance, and marine & specialty.
Integro was founded in 2005 to become a specialty insurance brokerage firm serving clients in over 125 countries from more than 40 offices across the globe. The business is active in a range of speciality areas, including aviation, benefits consulting, entertainment & sport, financial institutions, healthcare, marine/energy, professional services, real estate/construction, reinsurance, retail/consumer services; and transportation & logistics.
Join us at Intelligent Automation in Insurance - London 2018. Spring Special: Book before March 31st and save £200.
More of today's news
Aspen Re chairman/CEO Americas leaves
MS Amlin syndicate posts £500m loss in 2017
Nat cats hit AmTrust syndicate as parent goes private
