Xenia Broking Group Ltd., the credit score insurance coverage and surety specialist dealer, introduced it has acquired a majority stake in Capstone Insurance coverage Brokers Ltd., a Hong Kong-based insurance coverage dealer with specialist experience in monetary traces and digital asset insurance coverage.
This acquisition marks the beginning of Xenia’s worldwide enlargement and broadens the broking group’s product providing into new and rising courses of enterprise.
Monetary particulars of the transaction weren’t disclosed.
That is Xenia’s ninth acquisition in three years, which has seen the unbiased broking group develop into one of many largest credit score insurance coverage and surety specialists within the UK, the corporate stated.
The Capstone administration group will proceed to run the enterprise post-transaction whereas sustaining an ongoing minority stake.
“It is a transformative deal for Xenia, marking our first worldwide acquisition and including breadth and variety to our product vary as we develop our imaginative and prescient to turn out to be the main specialist dealer for credit score, monetary dangers and monetary traces insurance coverage internationally,” commented Tim Coles, CEO of London-based Xenia Group.
“The group at Capstone has created a significantly spectacular enterprise up to now three years. They’ve demonstrated nice entrepreneurial aptitude and agility, efficiently establishing themselves as a market-leading monetary traces dealer in Hong Kong and a pioneer for digital asset insurance coverage in Asia,” he added.
“We’re delighted to have present in Xenia a enterprise that shares our imaginative and prescient, outlook and ambition. The union will speed up our plans to develop by serving to us to draw the easiest specialist expertise to Capstone and by enabling us to execute our acquisition technique,” stated David Halley, co-founder and managing accomplice of Capstone.
Supply: Xenia Broking Group
Was this text helpful?
Listed below are extra articles chances are you’ll get pleasure from.
Interested by Businesses?
Get computerized alerts for this subject.