Avid Insurance Acquires Majority Stake in Incorporated Insurance Group Ltd (IIGL)
March 2, 2021
Avid Insurance Services Ltd has acquired a majority stake in specialist construction managing general agent Incorporated Insurance Group Ltd (IIGL), with IIGL founder Mike Smith retaining a minority stake and the senior team moving across. The deal increases Avid's gross written premium to about £75m and expands its specialist product lines and underwriting capability in construction, property and SME insurance.
- Buyers
- Avid Insurance Services Ltd
- Targets
- Incorporated Insurance Group Ltd (IIGL)
- Sellers
- Mike Smith, Lyndsey Thompson, Dean Surridge, Other existing shareholders of IIGL
- Platforms
- Avid Insurance Services Ltd
- Industry
- Insurance
- Location
- Essex, United Kingdom
- Transaction Type
- Addon
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