ICB Group joins Finch as part of the Verlingue Group, effective from today.
Verlingue’s UK subsidiaries ICB and Finch will work together to build a “common entity” in the UK. Post understands that discussions are yet to take place over whether one or both of the brokers will rebrand, but the businesses will integrate.
ICB CEO Neil Campling revealed that part of the rationale behind the acquisition was that many of its clients do business internationally and the broker wanted to be able to continue to service them effectively post-Brexit.
Campling said: “Since the buyout from IAG in 2012, ICB Group has continued to expand and develop into one of the most successful and leading brokers in the UK. Our client base has also expanded and developed both in terms of size, but also in the demands and level of sophistication they require. ICB has taken the sensible view that we have to continue to evolve in order to remain relevant to our clients.
“As they have expanded, many of our larger clients now have an international dynamic to their business and so we need to ensure we are in a position to be able to service them appropriately. As part of this we believe it is essential that we can continue to trade effectively across the EU post Brexit. Joining Verlingue helps ICB meet these various needs and puts our business in what we believe is the right position for the future.”
Verlingue, which is part of the Adelaide Group, has a strong European presence, with 20 locations in France, the UK and Switzerland. It has 1,000 employees and €1.7bn (£1.51bn) in negotiated premiums.
The move sees Verlingue triple its presence in the UK market. It now has premiums of £130m, 170 employees and five locations.
Jacques Verlingue, chairman of Verlingue and the Adelaide Group said: “Verlingue has the ambition of being a leading family owned independent broker in the UK and the combination of ICB and Finch will create a great platform from which to build. ICB is one of the leading independent brokers in the UK with a similar ethos to Verlingue.
“We see the potential to amalgamate the entrepreneurial spirit and talents of ICB and Finch as a great opportunity for both teams, their clients and their partners.”
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