Icen Risk Secures Zurich Support to Boost Growth in M&A Insurance Market
London’s Icen Risk, a prominent name in the field of M&A insurance, has secured a notable minority investment from Zurich, a leading global insurer. This strategic partnership not only fortifies Zurich’s presence in the booming M&A insurance market but also empowers Icen Risk to expand its operations across North America and key European regions, such as Germany.
About Icen Risk and Its Growth
Established in 2018, Icen Risk has rapidly positioned itself as a key player in the private company M&A insurance sector. The company operates under the prestigious Coverholder status with Lloyd’s of London and has reported impressive figures, including:
- £70 million in gross written premiums (GWP)
- A dedicated team of 25 professionals
- Operations spanning across Spain, Italy, and Austria
Specialized Insurance Solutions
Icen Risk specializes in offering comprehensive coverage for various risks associated with M&A transactions, including:
- Warranty & Indemnity
- Tax
- Intellectual Property
- Environmental Risks
Strategic Investment from Zurich
The recent investment from Zurich is expected to bolster Icen Risk’s growth trajectory, enabling the firm to enhance its offerings and penetrate new markets. As M&A activity continues to rise globally, this influx of capital and Zurich’s extensive industry expertise will equip Icen Risk to address the increasing demand for tailored insurance solutions in complex deal-making scenarios.
Insights from Icen Risk Leadership
Dawn Bhoma, managing principal at Icen Risk, underscored the investment’s importance, stating:
“Icen’s talented team and blue-chip capacity providers have driven our rapid growth in a market that has expanded by 50% over the last five years. Zurich’s global brand, international network, and product expertise will take us to the next level and provide more choice for clients.”
Similarly, Robert Brown, also a managing principal at Icen Risk, emphasized the firm’s unique position:
“With Zurich as a partner, we are uniquely placed to capitalize on the £2.5 billion M&A insurance market as private equity, investment funds, and corporates seek greater protection in an increasingly complex deal-making environment.”
Alignment with Zurich’s Growth Strategy
Stephen Moss, global head of financial lines and cyber at Zurich, highlighted the synergy between the investment and Zurich’s growth strategy:
“This partnership aligns with Zurich’s growth ambitions in the Specialties market and enhances our capabilities in M&A insurance. Icen has quickly become a leader in this niche sector, and our investment is well-timed to support its expansion.”
Looking Ahead
The partnership between Icen Risk and Zurich is set to accelerate the growth of Icen Risk, providing enhanced insurance solutions for M&A transactions across Europe and North America. For more information on M&A insurance trends and strategies, visit InsurTech Insights.
