In a move to build the world’s leading independent specialty managing general agent (MGA) platform, specialty re/insurance group Aventum has completed its first MGA acquisition with the purchase of Marine specialist Post & Co.
This transaction is a defining step in Aventum’s international growth strategy, immediately establishing a new growth platform across Continental Europe and strengthening the Group’s global Marine proposition.
The acquisition is complementary and accretive for Aventum’s global MGS, Rokstone, uniting the two independent businesses.
David Bearman, CEO, Aventum, said: “This acquisition opens up a significant new growth region for us in Continental Europe. It demonstrates how we will selectively use M&A to broaden our capabilities and accelerate growth where there is strong strategic alignment. Aventum is in a prime and enviable position – we’re independent with significant financial firepower that’s not constrained by punishing debt. That gives us the freedom to explore M&A opportunity in an environment where others are retreating.
Based in Rotterdam and founded in 1918, family-owned Post & Co is considered one of Continental Europe’s most established and respected Marine underwriting businesses.
Operating from four offices across Rotterdam, Groningen, Antwerp and Frankfurt, the business offers a comprehensive range of Marine-based insurance lines, including P&I, charterers and shipowners’ liability, war risk, cargo and logistics-related covers.
Post & Co distributes through a network of approximately 250 brokers across Europe and Asia, backed by Lloyd’s and specialist company market capacity.
The company will operate under the Aventum Group as part of Rokstone. The acquisition is growth focused, with no changes to Post & Co’s management or organisation.
Roderick Post remains a key member of the senior leadership team. He will play an important and active role in spearheading the development and growth of the enlarged Group’s Continental European platform and Marine proposition.
Bearman continued: “This is a landmark moment for Aventum, our first MGA acquisition, and one we are proud to be making. Post & Co is a business built over more than a century on deep sector expertise and an independent spirit.
“These are values that resonate strongly with Aventum. In welcoming Roderick and his team into the Aventum family, we gain not only a business of the highest calibre, but a leadership group whose experience and standing in the European MGA market will be invaluable.”
Roderick Post, CEO, Post & Co, commented: “Post & Co has been part of our family for more than 100 years, and the decision to find the right long-term partner was one we approached with considerable care.
“Aventum’s values, its commitment to independence, to its people and to its ambition, align closely with everything Post & Co stands for. I am proud to be joining Rokstone and the Aventum Group and look forward to contributing to the development of the enlarged Group.”
The transaction is subject to customary regulatory approvals. Financial terms have not been disclosed
