London, August 13, 2024 – U.S.-based insurance brokerage Brown & Brown has completed the acquisition of CI Group, a prominent UK trade credit specialist, as reported by Insurance Business UK. CI Group, which oversees more than £6 billion in trade turnover annually, plays a critical role in the trade credit insurance market in the UK.
This acquisition is valued at approximately £150 million and marks a significant step in Brown & Brown’s strategy to broaden its reach in the UK market. CI Group employs around 250 professionals across several offices in the UK, and the integration into Brown & Brown is expected to enhance the service capabilities and client offerings of the U.S. brokerage firm.
Brown & Brown, headquartered in Daytona Beach, Florida, is one of the largest independent insurance brokerages globally, with more than 12,000 employees. The company has a diverse portfolio of insurance products and services, including risk management, employee benefits, and personal insurance solutions. In 2023, Brown & Brown reported annual revenues exceeding $3 billion.
The acquisition of CI Group aligns with Brown & Brown’s growth strategy, particularly in the UK, where the demand for trade credit insurance is on the rise due to increased global trade and economic uncertainties. This strategic move not only strengthens Brown & Brown’s presence in the UK but also positions the company to capitalize on new market opportunities in Europe.
This transaction underscores the ongoing consolidation trend in the insurance industry, as companies seek to expand their market share and enhance their service offerings through strategic acquisitions.
