Ryan Specialty, the Chicago-based specialty insurance services firm, has completed the acquisition of Innovisk Capital Partners from Abry Partners and BHMS Investments.
Financial details of the deal were not disclosed.
London-based Innovisk has become part of Ryan Specialty Underwriting Managers (RSUM), the underwriting management segment within Ryan Specialty.
The acquisition was first announced in October 2024.
Innovisk was founded in 2017 and consists of a diverse, non-correlated portfolio of seven highly regarded specialty MGUs. Innovisk’s lines of business include environmental, transactional liability, US and international financial lines, professional liability for lawyers, commercial auto liability, and UK professional indemnity and P&C.
Headquartered in London, Innovisk also has offices in the United States and India.
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Clear Group Buys UK Broker CoverMarque Ltd.
The Clear Group, the London-based independent insurance broker, announced the acquisition of fast-growing niche schemes broker CoverMarque Ltd., based in Hampshire, England.
Financial details of the deal were not disclosed.
Established in 2003, CoverMarque Ltd. is a niche schemes broker specializing predominantly in insurance for temporary marquee structures. The business, which was set up by managing director and founder Nick Drew, has grown its schemes business by over 120% in the past four years.
Drew and his team will join forces with Clear’s retail business as it continues to broaden its specialist capabilities. Clear’s scale and influence in the market will support CoverMarque Ltd.’s ambitions as it looks to capitalize on significant growth opportunities, which include providing event and fleet insurance solutions for its clients.
“CoverMarque Ltd. ticks all the boxes in what we look for in a business which can support our growth ambitions,” commented Clear Group CEO, Mike Edgeley. “It’s a fast growing, entrepreneurial led firm, which has carved out a distinctive position in the market for being a real specialist in its field. There is significant opportunity for Nick and his team to thrive within Clear as they look to expand their specialist offering to clients.”
Topics
Mergers & Acquisitions
Excess Surplus
Insurance Wholesale
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