Xenia Broking Group, the London-based credit insurance and surety specialist, announced it has entered into an agreement to acquire Credit Insurance Alliance (Brokers) Ltd. (CIA).
An independent trade credit insurance broker based in the West Midlands, England, CIA specializes in placing trade credit insurance that protects businesses against insolvency or default of their UK or overseas customers.
The transaction is expected to complete on May 10, 2021, after which Xenia will integrate CIA’s business within its regulated entity Credit Risk Solutions Ltd. (CRS).
“CIA has built an excellent track record for client engagement, innovative solutions and service quality over the last 13 years – and CIA recognizes Xenia as a natural home for its clients because of our specialism, expertise and culture of client service,” commented Tim Coles, CEO of Xenia, in a statement.
“The union supports our strategy to build a leading trade credit broking business that delivers outstanding outcomes for our expanding client base,” he added.
“This transaction with Xenia is a natural and exciting step for CIA. We greatly look forward to working with a partner that understands our strengths and customer-centric values and who we know will provide first class service and expertise to our clients,” said Deana Kearns and Eileen Barter, directors of CIA.
Xenia Broking Group is part of the Nexus Group, a London based insurance intermediary and managing general agent.
Source: Xenia Broking Group
Topics Mergers & Acquisitions Agencies
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