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Insurance coverage dealer Russell Scanlan has acquired Constructing & Land Ensures (BLG) to boost progress alternatives.
Each companies intend to profit and supply Russell Scanlan property sector purchasers entry to an prolonged and bespoke service.
Based in 2006, BLG is an insurance coverage dealer that specialises in long-term development merchandise. This consists of warranties for residential properties, insurance-backed ensures and business property warranties in addition to part components ensures.
BLG will proceed to function underneath its band and with its 12-strong group. Mike Dickinson and Matt Franklin from Russell Scanlan will be a part of the board.
Via the deal, BLG may also change into a part of Acrisure, the worldwide fintech.
Mike Dickinson defined: “Whereas Russell Scanlan continues to ship its profitable progress plan, we recognise that partnerships with these working as specialists in particular sectors will be mutually useful – and definitely BLG’s status is substantial in its area. As well as, there are a number of synergies between the Russell Scanlan and BLG manufacturers and site will play its half – each well-established East Midlands brokers with a powerful foothold within the UK’s heartland.
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“This new partnership will permit the companies to faucet into current shopper networks and can assist each Russell Scanlan and BLG to share experience of their respective specialist fields.”
Paul Rose, director at BLG, stated: “Our values at BLG bear sturdy similarities to Russell Scanlan’s, each being East Midlands-based insurance coverage brokers with sturdy ties to our respective fields and excessive ranges of service recognised by our trade and shopper teams. Our progress has resulted from offering a pleasant, private service with practically 20 years of expertise in long-term development initiatives. We’ll proceed to undertake this bespoke method underneath the BLG model, with the assist of the Russell Scanlan group.”
This isn’t the one deal immediately as Sunday, a Thailand-based full-stack insurtech firm, has closed the acquisition of KSK Insurance coverage Indonesia for an undisclosed sum.
In keeping with Sunday, the deal positions it as one of many largest totally licensed insurtech teams within the area’s two greatest normal insurance coverage markets, with revenues exceeding $100m (Bt3.54bn).
KSK Insurance coverage Indonesia, a normal insurance coverage supplier, reported gross written premiums of round $40m as of 2023.
The corporate’s portfolio consists of automotive, property and cargo insurance coverage, distributed by way of a community of brokers and brokers in key Indonesian cities equivalent to Jabodetabek, Bandung, Surabaya, Medan and Bali.
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