Xenia closes in on trade business of UK-based Credit Insurance Alliance
Xenia Broking Group, the credit insurance and surety specialist, has entered into an agreement to acquire the trade credit business of a UK based independent credit insurance broker.
Xenia is set to acquire the trade credit business of West Midlands-based Credit Insurance Alliance Brokers (CIA), which specialises in placing trade credit insurance which protects businesses against insolvency or default of their UK or overseas customers.
The transaction is expected to complete on May 10, 2021. Xenia will then integrate CIA’s business into its regulated entity Credit Risk Solutions (CRS).
Tim Coles, chief executive officer at Xenia, said the acquisition will be mutually beneficial for both parties. “CIA has built an excellent track record for client engagement, innovative solutions and service quality over the last 13 years - and CIA recognises Xenia as a natural home for its clients because of our specialism, expertise and culture of client service,” he said.
Deana Kearns and Eileen Barter, directors at CIA, said Xenia “understands our strengths and customer-centric values” and will provide first class service and expertise to its clients.
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