US insurance broker Acrisure announces that it has acquired UK independent specialist broker Russell Scanlan in Nottingham.
The deal is expected to close in the short term, pending regulatory approvals from the Financial Conduct Authority (FCA). Details were not disclosed.
Acrisure said Russell Scanlan’s existing management team, led by Managing Director Bryan Banbury, Sales and Marketing Director Mike Dickinson and Director Simon Winiarski, will continue to lead the business. The company will continue to operate under the Russell Scanlan brand.
Established in Nottingham in 1881, Russell Scanlan advises all forms of commercial insurance for businesses of all sizes in multiple sectors as well as private clients. Its specialty programs include offerings for pilots, microbreweries and hospitality venues.
As part of Acrisure, the Russell Scanlan team will have access to Acrisure’s global network of insurance partners as well as the company’s technology and artificial intelligence systems.
To date in 2022, Acrisure has completed or has under letter of intent 100 acquisitions. It is now present in more than a dozen countries. Acrisure said it expects to make further announcements of new acquisitions and partnerships in the UK in the near term.
Acrisure recently closed $725 million in Series B-2 preferred stock and received a valuation of $23 billion, representing a 31% increase from its last preferred stock raise in March 2021.
Acrisure offers a variety of products, including insurance, real estate services, cyber services, and asset management services. The company grew its revenue from $38 million to more than $3.8 billion in eight years.
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