Insurer grows its UK professions business with 49% stake in Allison & Partners
Hiscox has announced the purchase of 49% of UK professional indemnity broker and underwriting agency, Allison and Partners Insurance Services. The deal includes an option to buy the remaining 51% in the future.
Commenting on the purchase Steve Langan, managing director Hiscox UK, said: “Allison & Partners is a good fit for Hiscox, we are market leaders in the provision of office based liability insurance and like us, they are passionate about customer service. We are looking forward to growing with them.”
Jim Allison, founder of Allison & Partners, said: “This is a very exciting time for us, we have been working with Hiscox for years and we appreciate their understanding of our clients’ businesses. This deal represents a new phase in our business and we are proud to be associated with Hiscox.”
Allison & Partners was privately owned.