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Acrisure Acquires TEn, Will Go to Market as Eleven Network

June 9, 2023

Acrisure said it has acquired TEn Insurance Services Ltd. As part of the acquisition, TEn will go to market as Eleven Network.

The deal is expected to close in the near term, pending FCA regulatory approvals. Terms were not disclosed.

Since 2005, TEn has been providing services for industry professionals operating as appointed representatives (ARs).

The Eleven Network is differentiated from the market’s current offerings by principles that include:

  • Culture – Eleven Network is run for the benefit of its members. Eleven Network’s culture is one of total transparency. We have a fully transparent fee charging and remuneration structure, so every one of our broker and insurer partners know where they stand. Contracts are flexible and fair.
  • Exceptional services – Eleven Network will deliver the core services better than anyone else. These will be the services that members most need to help their businesses thrive.
  • Bespoke and exclusive products – We will deliver bespoke and exclusive member products, through E-Trading and access to your own MGA.
  • One infrastructure – Eleven will operate with one infrastructure, supporting members’ long-term independence.

The existing TEn management team, led by Dawn Derbyshire and Paul Sykes, will remain leaders within the Eleven Network. Acrisure has also made senior hires and appointments to augment the management team and support them with execution of strategic plans. These include:

  • Andy Fairchild, former CEO of Broker Network, as chair of Eleven Network;
  • David Bruce, former Marsh Commercial CEO and COO, as CEO of Acrisure Networks and COO of Acrisure UK;
  • Simon Cooter, most recently Commercial Lines and High-Net-Worth Director at Covea, who will be a Non-Executive Director of Eleven Network; and
  • Shahram Shayesteh, former Head of Compliance at The Standard P&I Club, as Chief Risk Officer for Acrisure UK Retail, including Eleven Network.

Topics Mergers & Acquisitions

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