Brown and Brown completes acquisition of Kentro Capital

American broker Brown and Brown has completed its acquisition of Kentro Capital, a statement released today (10 October 2023) said.

The acquisition was announced earlier this year (23 May 2023) and was scheduled to close in the fourth quarter of 2023.

As part of the deal, Kentro will become part of Brown and Brown Europe, which rebranded from Global Risk Partners earlier this year (11 September 2023).

London-based Kentro is an insurance group that manages more than £500m of gross written premium and has 350 insurance professionals operating from offices in the UK, US, Europe, Asia and Dubai.

Chief executive Colin Thompson said the deal was a “pivotal milestone in the story of the Kentro”.

“Coming together with Brown and Brown will serve as a business enabler and a catalyst for continued success for our Kentro colleagues, customers and capacity providers,” he added.

“We are very excited to join their dynamic team.”

‘Strengthen our presence’ 

Kentro’s companies include Nexus, Xenia, Millstream, Capstone Brokers and Spectrum Risk Management.

As part of the deal, Kentro and its individual business entities will continue to trade and operate with the same leadership team, brand and market focus.

Mike Bruce, chief executive of Brown and Brown Europe, said: “We are very excited to welcome Kentro to the Brown and Brown team.

“The opportunity to collaborate with Colin and our new Xenia and Nexus teammates, while adding their unique capabilities to our already robust service offerings, will further strengthen our presence in the UK, Western Europe and the US, as well as position us for continued growth.”