Financial considerations of the transaction, which has been approved by the Financial Conduct Authority (FCA) in the UK, have not been disclosed.
EIP provides customised insurance and risk management services to artists, promoters, venues, productions and companies across the globe. It has insured nine out of the top ten highest grossing music tours of all time and handled fourteen of 2014’s top twenty grossing tours. Last year, EIP handled insurance premiums of over £100m with more than 60% generated internationally.
Robertson Taylor CEO John Silcock and James Davies, Global Sales & Marketing Director, will continue in leadership roles and report to Neil Clayton, Integro’s global Entertainment and Sport practice leader.
“Integro and EIP have complementary skills and teams, which make this alignment of forces beneficial to clients and very exciting for all of us,” Clayton said. “Our strategy is to continue expanding our global Entertainment and Sport Practice, employing the skills of our combined businesses to add new products and services for clients in all geographies.”
EIP is the largest and most recent in a series of acquisitions by Integro, which include UK based Ellis Clowes in November, serving the global motorsports industry; Entertainment Risk Management Ltd. in August, primarily serving brokers specialising in the film and television media industry; Stonehouse Conseillers in 2014, servicing the needs of commercial film production companies and international advertising agencies; entertainment and sports specialist Doodson Broking Group in 2013; and Allan Chapman James
in 2012, specialising in independent film, television and media industry sectors.
North American entertainment sector acquisitions have included Ventura Insurance Brokerage, Inc. (NY) in 2014, serving the film, television, media and theatre industries; Canada’s Multimedia Risk Inc. in 2013, serving the international film and television production industry; and Frost Specialty, Inc. in 2010, which focuses on the music industry from its Nashville base.
“The entertainment and sport business is a global business,” John Silcock commented. “Together, EIP and Integro will become a combined force with unrivalled expertise, client and carrier relationships. It’s the start of a fantastic long-term partnership with a company that has a track record for innovation and an unwavering commitment to clients.”
Integro Ltd. Chief Executive Officer William Goldstein concurred. “It is a very exciting time as we bring two of the biggest brands in the sector together. We look forward to integrating and enhancing our comprehensive offerings to become the leading provider of insurance and risk management solutions to the entertainment and sports sector globally.”
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