Xenia Broking Group, the London-based credit insurance and surety specialist, announced that it has entered into an agreement to acquire Credit Insurance Alliance (Brokers) Ltd. (CIA).
An independent commercial credit insurance broker based in the West Midlands, England, CIA specializes in providing commercial credit insurance that protects businesses against insolvency or default by their UK or overseas clients.
The transaction is expected to close on May 10, 2021, after which Xenia will integrate CIA’s activities into its regulated entity Credit Risk Solutions Ltd. (CRS).
“CIA has built an excellent track record of customer engagement, innovative solutions and quality of service over the past 13 years – and CIA recognizes Xenia as a natural home for its customers due to our specialization, expertise and of our culture of customer service, ”said Tim Coles, CEO of Xenia, in a statement.
“The union supports our strategy to create a leading trade credit brokerage business that delivers exceptional results to our growing customer base,” he added.
“This transaction with Xenia is a natural and exciting step for the CIA. We look forward to working with a partner who understands our strengths and customer-centric values and who we know will provide first-class service and expertise to our customers, ”said Deana Kearns and Eileen Barter, Directors of CIA.
Xenia Broking Group is part of the Nexus Group, a London-based insurance intermediary and managing general agent.
Source: Xenia Brokerage Group
Was this article valuable?
Here are some other articles you might enjoy.
Interested in Agencies?
Receive automatic alerts for this topic.