Torlea Group has completed its acquisition of Kinetic Insurance Brokers, a Lloyd’s insurance broker, from Hamilton UK Holdings, a subsidiary of Hamilton Insurance Group.
Torlea has received all relevant regulatory approval from the Financial Conduct Authority and Lloyd’s, and as a result Kinetic will become a wholly-owned subsidiary of Torlea with immediate effect.
“Torlea is pleased to announce the completion of the purchase of Kinetic which will enable Kinetic to provide direct London access for specialty niche opportunities in the UK, Europe and North America,” said Ray Dowling, chairman of Torlea.
Bob Deutsch, chief strategy officer of Hamilton Insurance Group, said: “We are happy to have come to an agreement that will benefit both of our organisations and wish Torlea the best of success in their new ventures with Kinetic Insurance Brokers.”
Kinetic Insurance Brokers, London, UK, Hamilton Insurance, Bermuda, Torlea Group, Insurance, Financial Conduct Authority, M&A, Europe, North America