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Belgian company insurance coverage brokers Induver and Clover have unveiled plans to merge, creating a brand new entity with enhanced market presence.
Hg, an investor in software program and repair companies, will help the merged firm as a shareholder, fuelling strategic development initiatives.
Hg-managed HgCapital Belief (HGT) will make investments round £6.7m (€7.84m) in Induver, with extra funds coming from different institutional purchasers by means of the Hg Mercury 4 Fund.
Established in 1990, Induver operates as an insurance coverage dealer for industrial and company purchasers in Belgium.
Clover, launched in 2019 by a neighborhood household brokerage, specialises in B2B and area of interest insurance coverage merchandise.
HGT stated the merger guarantees a synergistic mix of Induver’s high-end market place and technical experience with Clover’s specialty insurance coverage expertise.
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HGCapital companions Joris Van Gool and Bernd Tahon stated: “We’re excited to be a part of this important second for 2 high-quality companies, who each share glorious reputations. We imagine this high quality will strengthen additional as the 2 groups mix their robust technical, industrial and platform capabilities.”
The founders of each corporations will retain their management roles inside the new group.
Marc Van Nuland, an insurance coverage business veteran with greater than three a long time of expertise within the Benelux area, will assume the function of govt chairman on the mixed entity.
Induver managing administrators Seppe Sijmons, Mieke Verstraeten and Sjarel De Bondt stated: “We’re delighted to hitch forces with the spectacular Clover staff and construct a very glorious providing to our purchasers.
“Bringing in Hg’s in depth expertise in insurance coverage, significantly their digitisation capabilities, in addition to Marc’s information and management on this sector, provides us a really robust place for additional development, each organically and non-organically.”
Clover companions Viktor Roelandt, Laurent Claes and Olivier Claes stated: “We instantly recognized a standard DNA between Clover and Induver and our discussions in current months have greater than confirmed that. With our shared ambitions, we’ve got excessive aspirations to turbocharge our mixed enterprise.”
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