Xenia Buys Majority Stake in Hong Kong’s Capstone Insurance Brokers

Xenia Broking Group Ltd., the credit insurance and surety specialist broker, announced it has acquired a majority stake in Capstone Insurance Brokers Ltd., a Hong Kong-based insurance broker with specialist expertise in financial lines and digital asset insurance.

This acquisition marks the start of Xenia’s international expansion and broadens the broking group’s product offering into new and emerging classes of business.

Financial details of the transaction were not disclosed.

This is Xenia’s ninth acquisition in three years, which has seen the independent broking group grow into one of the largest credit insurance and surety specialists in the UK, the company said.

The Capstone management team will continue to run the business post-transaction while maintaining an ongoing minority stake.

“This is a transformative deal for Xenia, marking our first international acquisition and adding breadth and diversity to our product range as we develop our vision to become the leading specialist broker for credit, financial risks and financial lines insurance internationally,” commented Tim Coles, CEO of London-based Xenia Group.

“The team at Capstone has created a seriously impressive business in the past three years. They have demonstrated great entrepreneurial aptitude and agility, successfully establishing themselves as a market-leading financial lines broker in Hong Kong and a pioneer for digital asset insurance in Asia,” he added.

“We are delighted to have found in Xenia a business that shares our vision, outlook and ambition. The union will accelerate our plans to grow by helping us to attract the very best specialist talent to Capstone and by enabling us to execute our acquisition strategy,” said David Halley, co-founder and managing partner of Capstone.

Source: Xenia Broking Group

Topics Mergers & Acquisitions Agencies