Home Insurance Law Russell Scanlan purchases BLG to develop companies

Russell Scanlan purchases BLG to develop companies

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Russell Scanlan purchases BLG to develop companies

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Insurance coverage dealer Russell Scanlan has acquired Constructing & Land Ensures (BLG) to reinforce progress alternatives.

Each companies intend to learn and supply Russell Scanlan property sector shoppers entry to an prolonged and bespoke service.

Based in 2006, BLG is an insurance coverage dealer that specialises in long-term building merchandise. This contains warranties for residential properties, insurance-backed ensures and business property warranties in addition to element elements ensures.

BLG will proceed to function beneath its band and with its 12-strong crew. Mike Dickinson and Matt Franklin from Russell Scanlan will be a part of the board.

By the deal, BLG can even turn into a part of Acrisure, the worldwide fintech.

Mike Dickinson defined: “Whereas Russell Scanlan continues to ship its profitable progress plan, we recognise that partnerships with these working as specialists in particular sectors could be mutually helpful – and definitely BLG’s repute is substantial in its discipline. As well as, there are a number of synergies between the Russell Scanlan and BLG manufacturers and placement will play its half – each well-established East Midlands brokers with a robust foothold within the UK’s heartland.

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“This new partnership will enable the companies to faucet into current shopper networks and can assist each Russell Scanlan and BLG to share experience of their respective specialist fields.”

Paul Rose, director at BLG, mentioned: “Our values at BLG bear sturdy similarities to Russell Scanlan’s, each being East Midlands-based insurance coverage brokers with sturdy ties to our respective fields and excessive ranges of service recognised by our business and shopper teams. Our progress has resulted from offering a pleasant, private service with practically 20 years of expertise in long-term building tasks. We’ll proceed to undertake this bespoke strategy beneath the BLG model, with the help of the Russell Scanlan crew.”

This isn’t the one deal immediately as Sunday, a Thailand-based full-stack insurtech firm, has closed the acquisition of KSK Insurance coverage Indonesia for an undisclosed sum.  

In response to Sunday, the deal positions it as one of many largest totally licensed insurtech teams within the area’s two greatest basic insurance coverage markets, with revenues exceeding $100m (Bt3.54bn). 

KSK Insurance coverage Indonesia, a basic insurance coverage supplier, reported gross written premiums of round $40m as of 2023.  

The corporate’s portfolio contains automotive, property and cargo insurance coverage, distributed by means of a community of brokers and brokers in key Indonesian cities resembling Jabodetabek, Bandung, Surabaya, Medan and Bali. 


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