Log In

Reset Password

Acrisure continues expansion with Russell Scanlan

Acquisition by Acrisure promises big benefits for Russell Scanlan. The new Acrisure Russell Scanlan team: from left Russell Scanlan director Simon Winiarski, Acrisure UK Retail president Mark McIlquham, and Russell Scanlan’s managing director Bryan Banbury and marketing director Mike Dickinson (Photograph supplied)

Acrisure, a global fintech firm with offices in Bermuda, has acquired veteran insurance brokerage Russell Scanlan.

The deal is expected to close soon, pending Financial Conduct Authority regulatory approvals.

“I look forward to welcoming the Russell Scanlan team to Acrisure,” Acrisure UK Retail president Mark McIlquham said.

“We are excited to work together to continue to grow what has been a fantastic business since inception more than 140 years ago. We have enjoyed getting to know the management team and have been impressed by their dedication to their clients and their business.

“We are committed to preserving and adding to Russell Scanlan’s legacy, culture, values and staff through the resources we can offer and our non-disruptive model.”

This year Acrisure has already completed or has under letter of intent 100 acquisitions, and has operations in more than 12 countries.

Founded in Nottingham, England in 1881, the company prides itself on a long history, and a strong professional pedigree built through advising on all forms of commercial insurance.

Russell Scanlan will now benefit from Acrisure’s global network of insurance peers as well as access to the company’s artificial intelligence systems and technology.

Russell Scanlan will continue to operate under its brand, while its managing director, Bryan Banbury, sales and marketing director Mike Dickinson and director Simon Winiarski remain in their positions.

“This new move for the business marks significant intent for its future, and one which we feel introduces huge benefits,” Mr Banbury said. “Acrisure demonstrated detailed understanding of the Russell Scanlan brand and the reputation that it carries in the industry from our earliest discussions and now, the support that we have in place provides us with added strength and confidence to continue with growth and expansion plans, while remaining at every level, a business firmly focused on customer service.”

They recently closed $725 million in Series B-2 Preferred Equity and received a $23 billion valuation, representing a 31 per cent increase from its last preferred equity raise in March 2021.

You must be Registered or to post comment or to vote.

Published June 22, 2022 at 2:45 pm (Updated June 22, 2022 at 9:56 pm)

Acrisure continues expansion with Russell Scanlan

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon