Integro Insurance Brokers, the New York-based insurance brokerage and specialty risk management firm, has completed its acquisition of Hawkes Bay Holdings Ltd. (HBH), the privately owned principal parent company of Tyser & Co Ltd., a specialist Lloyd’s broker.
Integro said it will now begin the process of merging its UK wholesale and UK retail operations with London-based Tysers, which will be completed in the near future.
The acquisition is Integro’s largest to date “and demonstrates the firm’s commitment to expanding into attractive, specialist insurance markets,” the broker said in a statement. The acquisition was originally announced on March 29, 2018.
The highly complementary business structures and cultures of Tysers and Integro creates a market leader in the UK brokerage market, nearly doubling the size of Integro’s current wholesale business.
The combined Wholesale business will be led by Integro’s co-heads of Wholesale, David Abraham and Jason Collins, while the combined Corporate & Private Clients segment will be overseen by Bob Pybus, Integro’s head of UK Retail. The Entertainment & Sport segment will continue to be led by Neil Clayton.
“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,” said David Abraham, co-Head of Wholesale.
Gary Andrews, Tysers’ head of North America, 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.”
“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,” commented Bob Pybus, head of Retail.
About Integro and Tysers
Specialty insurance brokerage firm Integro was founded in 2005 and now serves clients in over 125 countries from more than 40 offices across the globe.
Founded in 1820, Tysers has grown from a marine trade business to a specialist broker operating internationally in four practice groups: North America; International; Reinsurance, and Marine & Specialty. Originally a family firm, Tysers became a private partnership before incorporating in 2001. In 2007, a buyout of Tyser & Co. led to it being 100 percent colleague-owned.
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