Zurich invests in M&A insurance expert Icen Risk

Zurich Insurance Group recently announced a move to acquire a “significant minority stake” in Icen Risk, a mergers and acquisitions (M&A) insurance specialist, showcasing a strategic investment aimed at propelling Icen’s growth trajectory. Founded by Dawn Bhoma and Rob Brown in 2018, Icen Risk has carved itself a niche in the private company M&A insurance landscape, boasting gross written premiums (GWP) amounting to £70m ($90m) and a dedicated team of 25 seasoned professionals. With operational footholds in Spain, Italy, and Austria and a coverholder designation at Lloyd’s of London, Icen Risk has been steadily building its reputation as a prominent player in the M&A insurance sector.

In a bid to facilitate Icen’s widespread expansion across Europe and North America, Zurich will be acquiring an equity stake in the company, solidifying their existing partnership and setting the stage for a strategic alliance. Dawn Bhoma, Icen’s managing principal, expressed his enthusiasm for this new chapter, citing the significant market growth experienced by Icen in the past five years, which has now culminated in this notable investment from Zurich Insurance Group, a globally recognized leader in the insurance domain.

By leveraging Zurich’s global prowess, expansive international network, and unparalleled product expertise, Icen is poised to enter a new phase of growth and evolution, further enhancing its service offerings in the specialized M&A insurance landscape and broadening client options. Contingent upon regulatory approval, the deal is expected to be finalized by the third quarter of 2025, providing Icen with a substantial boost in its operational capabilities, market presence, and strategic positioning.

Stephen Moss, Zurich Insurance Group’s Financial Lines and Cyber global head, emphasized the synergistic partnership between Zurich and Icen, stating that the strategic investment aligns perfectly with Zurich’s long-term growth aspirations in the Specialties market. Additionally, Moss emphasized the profound market expertise and unrivaled track record of Rob and Dawn in the M&A insurance space, positioning Icen as a key player in the niche sector. As part of the investment deal, Moss will also join Icen’s board of directors, further solidifying the collaborative efforts and shared vision between the two entities.

In conclusion, Zurich’s strategic investment in Icen Risk epitomizes the synergistic partnership between two industry giants, poised to revolutionize the M&A insurance landscape and unlock new growth opportunities in Europe and North America. This collaboration underscores Zurich Insurance Group’s commitment to driving innovation, enhancing service offerings, and delivering superior value to its clientele, marking a pivotal moment in the evolution of the global insurance industry.