Venbrook snaps up P&C brokerage for US expansion
US-based insurance brokerage firm Venbrook Group has acquired a full-service property and casualty insurance brokerage and risk management firm based in Boston, in a move to expand its presence in the US east coast.
The acquisition of InterContinental Insurance Brokers (IIB) comes amidst a year of rapid expansion for Venbrook since partnering with private equity firm Parthenon Capital in 2020.
IIB offers insurance and risk management services to commercial real estate and high net worth personal lines clients, ranging from publicly traded REITs to privately held large-scale multifamily housing portfolios.
The deal is expected to further enhance Venbrook's offering in commercial real estate, including its proprietary real estate-focused specialty programmes. Additionally, it builds on Venbrook's nationwide geographic presence with a team of risk management professionals based in New England.
"We are excited to collaborate with Tom as we continue to invest in our growing stable of top-caliber professionals on the East Coast," said Jason Turner, Venbrook founder and CEO. "Tom and his team at IIB have built an exceptional business by executing on simple fundamental principles: superb client value delivered through relationships built on trust.
"From tailoring comprehensive insurance policy packages to their aggressive hands-on strategy with successfully settling claims on behalf of clients, IIB's approach to client service aligns completely with Venbrook's. IIB is a perfect complement and accelerant to our growing suite of nationwide commercial real estate risk management services."
Thomas Sleeper, IIB's founder who will continue to lead the business and become managing director, Venbrook Insurance Services Northeast Real Estate, added: "We could not be more thrilled to join the Venbrook team through this transformative partnership. Venbrook has built an outstanding culture and reputation that aligns perfectly with IIB's approach to providing clients with superior service and risk management solutions.
"We look forward to leveraging Venbrook's strength in customized real estate MGA programs and claims administration and adjusting services to bring even more value to our clients in the months and years to come."
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