Swedish MGA Brookfield Underwriting Acquired by Broking Group Säkra

Brookfield Underwriting, the specialist Stockholm-based high net worth managing general agent, announced it has been acquired by Säkra, one of Sweden’s largest insurance intermediaries, which itself has just been acquired by private equity investment firm Cinven.

Terms of the transaction are not disclosed.

Founded in 2010 by chairman Laurent Schonbach and CEO Leonard Münz, Brookfield specializes in fine art, jewellery and high value homes, with clients primarily in the Nordics. It has capacity from leading international insurers, including Lloyd’s of London. Brookfield will continue as a separate company, serving all brokers in its market under its own brand and Münz’s leadership.

The acquisition is a strategically important milestone for Säkra, furthering its ambition to offer enhanced and comprehensive services to private and corporate market clients.

Insurance Advisory Partners, the specialist insurance M&A, strategic and capital-raising advisory firm was retained as sole adviser to Brookfield in the transaction.

“Säkra has already shown determination and success by rapidly expanding within life and non-life insurance broking and wealth management services. Säkra’s support will allow Brookfield to replicate this success in the MGA market,” commented Schonbach.

About Säkra

Founded in 1990, Säkra is one of Sweden’s leading SME insurance intermediaries, providing life and non-life insurance products, as well as pension and wealth management services, to more than 38,000 SME clients and over 120,000 individual customers. Säkra has around 60 offices across Sweden and employs approximately 450 people.

Source: Brookfield Underwriting

Topics Mergers & Acquisitions Underwriting Insurance Wholesale