Brown & Brown closes Kentro Capital acquisition
Kentro's chief executive, Colin Thompson, and his team will continue in their roles
US broking group eyes growth in UK and Europe with deal that includes Nexus Underwriting and Xenia Broking
US broking group Brown & Brown has completed its acquisition of UK specialty underwriting and broking group Kentro Capital.
Kentro manages more than £500m ($614.03m) of gross written premiums through its Nexus Underwriting, Xenia Broking, Millstream, Capstone Brokers and Spectrum Risk Management units.
The business employs nearly 400 professionals operating in offices in the UK, the US, Europe and Asia.
Kentro chief executive, Colin Thompson, and his team will remain in place following the acquisition.
The acquisition expands Brown & Brown’s presence in the UK market.
Mike Bruce, chief executive of Brown & Brown Europe, said: “The opportunity to collaborate with Colin and our new Xenia and Nexus teammates while adding their unique capabilities to our already robust service offerings will further strengthen our presence in the UK, western Europe and the US, as well as position us for continued growth.”
Terms of the deal, which was announced in May, were not disclosed.
