Insurance coverage dealer Russell Scanlan has acquired Constructing & Land Ensures (BLG) to reinforce development alternatives.
Each corporations intend to profit and supply Russell Scanlan property sector purchasers entry to an prolonged and bespoke service.
Based in 2006, BLG is an insurance coverage dealer that specialises in long-term development merchandise. This consists of warranties for residential properties, insurance-backed ensures and business property warranties in addition to part elements ensures.
BLG will proceed to function beneath its band and with its 12-strong crew. Mike Dickinson and Matt Franklin from Russell Scanlan will be a part of the board.
Via the deal, BLG may even grow to be a part of Acrisure, the worldwide fintech.
Mike Dickinson defined: “Whereas Russell Scanlan continues to ship its profitable development plan, we recognise that partnerships with these working as specialists in particular sectors might be mutually helpful – and definitely BLG’s status is substantial in its area. As well as, there are a number of synergies between the Russell Scanlan and BLG manufacturers and site will play its half – each well-established East Midlands brokers with a robust foothold within the UK’s heartland.
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“This new partnership will enable the companies to faucet into current consumer networks and can assist each Russell Scanlan and BLG to share experience of their respective specialist fields.”
Paul Rose, director at BLG, mentioned: “Our values at BLG bear robust similarities to Russell Scanlan’s, each being East Midlands-based insurance coverage brokers with sturdy ties to our respective fields and excessive ranges of service recognised by our business and consumer teams. Our development has resulted from offering a pleasant, private service with practically 20 years of expertise in long-term development tasks. We are going to proceed to undertake this bespoke strategy beneath the BLG model, with the assist of the Russell Scanlan crew.”
This isn’t the one deal right this moment as Sunday, a Thailand-based full-stack insurtech firm, has closed the acquisition of KSK Insurance coverage Indonesia for an undisclosed sum.
In accordance with Sunday, the deal positions it as one of many largest absolutely licensed insurtech teams within the area’s two greatest common insurance coverage markets, with revenues exceeding $100m (Bt3.54bn).
KSK Insurance coverage Indonesia, a common insurance coverage supplier, reported gross written premiums of round $40m as of 2023.
The corporate’s portfolio consists of automobile, property and cargo insurance coverage, distributed by way of a community of brokers and brokers in key Indonesian cities equivalent to Jabodetabek, Bandung, Surabaya, Medan and Bali.
