Top-10 global insurance broker Acrisure has acquired Sutton Winson and Sutton Specialist Risks (SSR).
The deals are expected to close in the near term, pending FCA regulatory approvals.Â
To date in 2022, Acrisure has completed or has under letter of intent more than 120 acquisitions. The Company’s growing UK presence now spans ten partnerships in total.Â
“When I joined Acrisure in 2021, we compiled a list of respected, high-quality independent brokers and MGAs that we would love the opportunity to partner with – the Sutton Group was right at the top of this list,” said Mark McIlquham, president of Acrisure UK Retail. “We are deeply impressed by their cultures, brands and capabilities, putting customers and staff at the centre of all they do. Together with Acrisure, we’re eager to add to the legacy, culture, values, and career opportunities for the staff at Sutton Winson and SSR.”
Sutton Winson and SSR will continue to operate under their brands as part of Acrisure. The existing management teams will continue to run the businesses with additional leadership promotions.
John Ludley of SSR said: “Our independence has always been hugely important to us and that is why we have chosen to partner with Acrisure. Over the last two decades or more, we’ve had countless approaches from a vast range of potential acquirers. All past approaches were rebuffed as we’ve simply never encountered another business that would allow us to make ourselves even better than we already are. That was the case, until we met Acrisure.”
David Thomson of Sutton Winson added: “Our management teams and shareholders were very clear that most of the consolidators were never an option for us. Acrisure’s model is the antithesis of the global brokers and consolidators; they are 73% management owned. This is a long-term business that was deliberately created to operate very differently. Businesses join Acrisure because of its culture and the opportunity to grow by leveraging its human and tech capabilities.”
Acrisure expects to make further announcements of new UK acquisitions and partnerships in the near term.
