The credit score insurance coverage and surety specialist, Xenia Broking Group Ltd., introduced it has acquired the UK entire turnover commerce credit score and surety enterprise of Tysers Insurance coverage Brokers Ltd.
The transaction accomplished onJan. 11, 2022 and marks Xenia’s eighth acquisition thus far and fifth within the final 9 months. Additionally it is Xenia’s second acquisition of a commerce credit score consumer portfolio from a basic dealer, reinforcing recognition of Xenia’s specialist functionality and talent to supply distinctive service to commerce credit score purchasers.
Monetary particulars of the acquisition weren’t disclosed.
Martyn Locke, consumer director, will switch to Xenia with the consumer portfolio.
“2021 was an thrilling and productive yr for Xenia on the acquisition entrance and we’re delighted to begin 2022 by welcoming Martyn Locke to Xenia. Along with gaining Martyn’s expertise and long-standing commerce credit score relationships, we stay up for Martyn taking part in a key function in increasing our London presence, together with in assist of our Monetary and Speciality division and supporting development of our surety functionality,” commented Tim Coles, CEO of Xenia.
“We’re happy that Xenia’s place as a market-leading specialist in commerce credit score has been recognised by Tysers in choice of the best residence for Martyn and his portfolio of purchasers. We stay up for working intently with Tysers past this transaction,” Coles mentioned.
“I’ve tremendously loved constructing the portfolio at Tysers, and beginning a brand new chapter as a part of Xenia because the main specialist commerce credit score & surety dealer within the UK is an thrilling alternative,” based on Martyn Locke, consumer director at Tysers. “Guaranteeing a easy transition for my purchasers is a key precedence and I stay up for being a part of Xenia’s formidable development plans.”
“Our purchasers are entrance and centre of all concerns at Tysers. We’re delighted to be transferring our commerce credit score portfolio to a specialist dealer the place purchasers will proceed to obtain an impressive service,” mentioned Bob Pybus, head of Retail, Tysers.
“The sale of the portfolio is a part of our ongoing technique to give attention to and put money into the companies the place now we have the experience and alternative to develop,” Pybus continued.
“We want Martyn each success in his new function and thank him for his nice contribution while at Tysers. We’re trying ahead to seeing the portfolio prosper beneath Xenia’s possession,” he mentioned.
Supply: Xenia Broking Group
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