Belgian company insurance coverage brokers Induver and Clover have unveiled plans to merge, creating a brand new entity with enhanced market presence.
Hg, an investor in software program and repair companies, will assist the merged firm as a shareholder, fuelling strategic progress initiatives.
Hg-managed HgCapital Belief (HGT) will make investments round £6.7m (€7.84m) in Induver, with further funds coming from different institutional shoppers by means of the Hg Mercury 4 Fund.
Established in 1990, Induver operates as an insurance coverage dealer for industrial and company shoppers in Belgium.
Clover, launched in 2019 by a neighborhood household brokerage, specialises in B2B and area of interest insurance coverage merchandise.
HGT stated the merger guarantees a synergistic mix of Induver’s high-end market place and technical experience with Clover’s specialty insurance coverage expertise.
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HGCapital companions Joris Van Gool and Bernd Tahon stated: “We’re excited to be a part of this vital second for 2 high-quality companies, who each share glorious reputations. We consider this high quality will strengthen additional as the 2 groups mix their robust technical, industrial and platform capabilities.”
The founders of each corporations will retain their management roles throughout the new group.
Marc Van Nuland, an insurance coverage trade veteran with greater than three many years of expertise within the Benelux area, will assume the function of government chairman on the mixed entity.
Induver managing administrators Seppe Sijmons, Mieke Verstraeten and Sjarel De Bondt stated: “We’re delighted to affix forces with the spectacular Clover group and construct a very glorious providing to our shoppers.
“Bringing in Hg’s intensive expertise in insurance coverage, significantly their digitisation capabilities, in addition to Marc’s data and management on this sector, provides us a really robust place for additional progress, each organically and non-organically.”
Clover companions Viktor Roelandt, Laurent Claes and Olivier Claes stated: “We instantly recognized a typical DNA between Clover and Induver and our discussions in latest months have greater than confirmed that. With our shared ambitions, we’ve got excessive aspirations to turbocharge our mixed enterprise.”
