Integro Group Holdings, an international insurance brokerage and specialty risk management firm, has announced that its affiliate has successfully completed the acquisition of Hawkes Bay Holdings (HBH), the principal parent company of specialty Lloyd’s broker Tyser & Co.
The parties will now begin the process of merging their UK wholesale and retail operations under the terms of their agreement, which was completed in March 2018.
This transaction mark’s Integro’s largest acquisition to date as the firm looks to expand further into the specialist insurance market.
Integro believes the two businesses have highly complementary structures and cultures, and claims the merger will nearly double the size of its current wholesale operations.
The combined wholesale business will now be led by Integro’s Co-Heads of Wholesale, David Abraham and Jason Collins, while Bob Pybus, current Head of UK Retail at Integro, will oversee the combined Corporate & Private Clients segment and Neil Clayton will continue to lead the Entertainment & Sport segment.
Abraham commented on the deal: “This is a very exciting milestone in the history of both firms. Together, we have created a significantly larger wholesale platform, one which will bring a unique and attractive offering to the UK market and our international clients.”
Gary Andrews, Head of North America at Tysers, said: “Integro and Tysers have similar cultures and ways of doing business. We have a great opportunity to attract and retain the very best, entrepreneurial talent in our industry.”
Pybus added: “Together with Tysers, we are able to provide clients with an enhanced range of products and a broader base of skills, as well as enhanced opportunities for our teams.”
Founded in 2005, Integro serves clients in over 125 counties from 40 offices across the globe, offering broking services in a broad range of specialty areas.
