US-based insurance broker and risk management firm Integro expanded its presence into the UK Thursday with the acquisition of Lloyd's of London specialist insurer Ellis Clowes.
Ellis Clowes has been a key operator in the field of global motorsports insurance for more than thirty years and also provides tailored insurance solutions to clients operating in the conflict and security sectors, marine and aviation.
Integro has been actively building its specialty areas, including aviation; benefits consulting; entertainment; financial institutions; healthcare; marine/energy; professional services; real estate/construction; reinsurance; retail/consumer services; and trade & logistics/transportation in North America, and globally. Integro has a complementary hostile territories and security team, Ellis Clowes said.
“The scale and reach we will achieve by joining Integro will benefit our clients enormously,” said Ellis Clowes CEO Karen Ellis. “When Integro approached us, we recognized that their culture and plans would accelerate our growth, particularly in the United States.”
Earlier this month, the acquisition of Integro itself was completed by US-based private equity investment firm Odyssey Investment Partners.
William Goldstein, previously president of Integro, has been named CEO, and said the move would help accelerate acquisitions.
In August this year, Integro acquired London-based Entertainment Risk Management (ERM), which caters to brokers specializing in the film and televisiona industry.