Leicester-based commercial broker makes first acquisition

Goat Insurance has secured its first acquisition with the purchase of IGG Insurance’s full book of business.

Leicester-based Goat Insurance, a trading name of Sentreos, provides tailored commercial insurance propositions. It said that it was “actively pursuing a pipeline of strategic acquisitions to expand its footprint in the UK”.

It said that acquiring the book of business from IGG Insurance is “a significant milestone and signals the start of a bold growth trajectory in the UK insurance sector”.

IGG Insurance is a trading name of Rockland Risk Services. Managing director Adam Watts and his team will join Goat Insurance, with the combined teams working to deliver enhanced support for businesses.

Phil Hayes, co-owner and director at Goat Insurance, said: “Along with my fellow investors, we’ve waited patiently to find the perfect fit to enhance our business model. Watts and his team bring experience and energy perfectly aligned to our future plans for growth and innovation.”

Stepping back

Following the deal, IGG Insurance founder Naeem Chhabu is stepping back to spend more time with family.

Hayes said: “We’d like to thank Chhabu for the tremendous job he’s done building IGG Insurance into a respected and successful business.

“His vision and hard work laid a strong foundation and we’re honoured to carry it forward.”