The sister companies will combine forces to operate under French parent company brand
Risk management and insurance business ICB Group is to merge with sister company Finch Insurance Brokers and Employee Benefits, a corporate broker, to create a new UK trading entity.
The merger will occur in alignment with an organisational rebrand; as at 1 December 2019, ICB Group will rebrand to Verlingue, the name of the firm’s family-owned French parent company.
Then, on 1 January 2020, the new Verlingue will merge with Finch Insurance Brokers to form a single UK business.
The new business will continue to operate from its existing offices in Egham, Redhill, Manchester, Sheffield and London, under the leadership of the current chief executives Mike Latham and Neil Campling.
NBJ London Markets, a Lloyd’s and London market placing broker that is part of ICB Group, will also join Verlingue, however the firm will retain its name and brand.
Verlingue, an independent, family-owned broker, specialises in business protection, commercial risks and employee benefits; the firm employs 1,100 staff and has negotiated around €2,000m in premiums.
In a joint statement, Campling and Latham said: “The launch of the Verlingue brand in the UK market marks a significant milestone for our UK business, our clients and our colleagues.
“Our position as a top 15 UK commercial insurance broker, aligned with our successful, growing employee benefits business, means we are ideally placed to provide our clients with the best possible service and business solutions whilst also supporting the Verlingue Group’s ambitious growth plans, both in the UK and in Europe.”
Jacques Verlingue, chair of Adelaide, which owns Verlingue, added: “We are very excited about the merger and rebrand of our two UK businesses. It is an important step in our journey to developing a single brand across all our businesses in Europe.
“It will help us to capitalise on our common values and the strength of the Verlingue brand, for the ultimate benefit of our customers.”