[ad_1]
Bridge Specialty Worldwide has agreed to amass Acorn Worldwide Community, a Singapore-based insurance coverage dealer, for an undisclosed sum.
Acorn, established in April 2011, is licensed by the Financial Authority of Singapore (MAS) and is led by founder and CEO David Ong.
Ong, with greater than 45 years of expertise within the insurance coverage business, has held senior positions at Willis Singapore and served as CEO of Marsh and McLennan Singapore.
Publish-transaction, Ong and his staff are set to proceed managing the enterprise.
Bridge Specialty is the wholesale and specialty brokerage unit of Brown & Brown Europe.
The transfer is aimed toward establishing Bridge Specialty’s presence in the important thing Singapore insurance coverage hub and increasing its platform throughout Asia.
Entry essentially the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nonetheless, we wish you to take advantage of
helpful
determination for your online business, so we provide a free pattern you could obtain by
submitting the beneath kind
By GlobalData
At the moment, its Asian operation contains Capstone Insurance coverage Brokers, a Hong Kong-based firm specialising in monetary strains and digital asset insurance coverage.
Acorn and Capstone are anticipated to collaborate carefully to foster progress of their respective areas of specialisation inside each Singapore and Hong Kong markets.
Bridge Specialty Worldwide CEO Tim Coles mentioned: “Acorn is a well-respected and long-established insurance coverage dealer in Singapore. David Ong and his staff have an excellent repute for consumer engagement and repair high quality.
“We’re delighted to accomplice with them and for David and his staff to guide our entry into the Singapore market. David’s expertise and connections will considerably advance our ambitions to develop in Asia.”
Ong added: “Becoming a member of Bridge Speciality Worldwide and Brown & Brown marks a big milestone for our staff and opens up limitless potentialities for our future. Being a part of one of many largest world insurance coverage middleman teams, we’re poised to unlock unmatched alternatives for our purchasers, employees and enterprise progress.”
The acquisition is topic to regulatory approval from MAS and is anticipated to be accomplished within the first quarter of 2024.
In December 2023, Brown & Brown (Europe) acquired R McGee Insurance coverage Brokers (R McGee), a private and business strains dealer.
[ad_2]
