Clements Europe buys International Vehicle Risk Management business
Clements Europe, a member of the Clements International group of companies, has acquired the International Vehicle Risk Management (IVRM) business from Lockton.
Clements International provides insurance for expatriates and international organisations.
“This acquisition represents a landmark in the development of our London office and an important part of our growth plans,” said Dan Francis, director of Clements Europe.
“We will continue to organically grow our current European business, as well as actively pursue further acquisitions.”
The IVRM business consists of overseas diplomats and international fleet business, complementing Clements Europe’s core business.
“This deal marks a significant step in the company’s strategic global expansion into key international markets,” added Francis.
IVRM policyholders’ existing coverage will not be affected and will continue to be offered through Clements Europe, the company said.
Financial terms of the acquisition were not disclosed.
