Integro Ltd., an insurance brokerage and risk management firm based in New York City, has acquired London-based Kite Warren & Wilson Ltd., which specializes in marine hull & liability coverage and financial lines.
Financial details of the transaction have not been disclosed.
Kite Warren & Wilson (KWW) was formed in 1999. With marine coverage as a core offering, KWW has since expanded into the non-marine, financial and professional risk, and energy fields, providing a range of services in retail and wholesale broking.
“Kite Warren & Wilson covers all types of marine transport, and we are delighted in particular at the extraordinary level of expertise in marine hull coverage our new colleagues add to Integro’s extensive marine capabilities,” said Toby Humphreys, Integro’s London chairman. “The KWW team, led by co-founders Tom Wilson and Mark Warren, also enhances Integro’s financial and professional lines capabilities in the UK marketplace.”
KWW’s chairman, Ray Kite, is retiring after 57 years in the industry.
Wilson, a managing principal, sees significant client benefit in the combination of forces. “We were attracted to Integro’s model of bringing together specialty broking operations; it made for a natural fit,” Wilson said, noting that the merger will help drive Integro’s international development.
In addition to supplementing the firm’s global marine practice offerings, Integro President William Goldstein said the KWW acquisition will play an important role in expanding Integro’s global marine capabilities and enhancing service to Integro’s large marine oriented retail clients. KWW also has a significant presence in Asia, which will expand Integro’s international footprint.
Integro, which on May 6 celebrated a decade of operation, said it has been an active acquirer of specialist firms across its platform as it continues to establish itself as a provider of specialty solutions in the insurance brokerage space.
Over the past year, the broker said it has acquired NPA Insurance Broking Group (April 2015); Howard Global Insurance Services (December 2014); Ventura Insurance Brokerage (December 2014); Dominium (November 2014), Stonehouse Conseillers Ltd. (August 2014); and Richard Thacker & Company Limited (April 2014).
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