Insurance firm acquired by global broker
AssuredPartners, an insurance broker operating in the United States, UK, and Ireland, has acquired CIA Insurance, an intermediary based in Rugby.
Established in the mid-1990s, CIA Insurance manages a portfolio exceeding £45m of Gross Written Premium (GWP) and employs more than 90 professionals. In addition to landlord insurance, CIA Insurance extends its services to clients in the motorbike, commercial, and household insurance segments across the UK.
AssuredPartners, the acquiring entity, is among the growing independent insurance agencies operating in the United States, UK, and Ireland. Founded in 2011, AssuredPartners has acquired over 450 agencies and maintains a global presence with offices in four countries and 36 states across the US, with a workforce exceeding 9,000 employees.
David Heathfield, CEO of AssuredPartners UK and Ireland, said: “We are extremely happy to welcome CIA Insurance to our rapidly expanding group of partner companies. Over the last several years, management and the wider team have demonstrated the ability to operate a highly successful company, and we look forward to working with all members of the team as they take the company to the next level with the support of our group resources.
Exiting CIA Insurance shareholders, Lee Callaby, Eliot Blundell and Martin Sheppard said: “We are very proud of the business we have built over the years. We would like to thank our staff for their enormous contribution in making CIA the successful company that it is today and we feel confident that with the support of a large group like AssuredPartners, the company will continue to grow and offer market-leading solutions to our clients.
BCMS served as the lead advisor to the shareholders of CIA Insurance during the transaction, which concluded in December 2023. Legal counsel for the transaction was provided by Squire Patton Boggs.
