23 May 2023Analysis

Brown & Brown buys Kentro Capital

Brown & Brown has entered into an agreement to acquire Kentro Capital. The transaction is expected to close in the fourth quarter of 2023, subject to certain closing conditions, including the receipt of required regulatory approvals.

Founded in 2008 Kentro is an insurance industry group headquartered in London, managing over £500 million of gross written premium. The collective Kentro team is composed of more than 350 insurance professionals operating from offices in the UK, US, Europe, Asia and Dubai.

The Kentro companies, Nexus, Xenia, Millstream, Capstone Brokers and Spectrum Risk Management, focus on product specialisation and underwriting discipline as cornerstones for growth.

Currently, Nexus underwrites across a diversified portfolio of 20 risk classes, including trade credit, financial lines and aviation, through a network of over 800 retail broker partners in nine countries.

The Kentro Group and its individual business entities will continue to trade and operate as they have historically, with the same leadership team, brand and market focus. Colin Thompson, Kentro Group chief executive, will continue to lead the business, supported by Stuart Rouse, Kentro Group CFO, and will work directly with Brown & Brown senior leaders.

Chris Walker, executive vice president at Brown & Brown said: “We are very excited to have Colin, the Kentro senior leaders and their talented staff join the Brown & Brown team. The cultural alignment between our businesses demonstrates our shared vision and commitment to assisting customers of all sizes to meet their unique risk management needs.”