New London based insurance intermediary group launches with ex-Kentro leader as boss

Sodalis Capital, led by former Kentro Capital chief executive Colin Thompson, has officially launched.

The London based insurance intermediary group focuses on UK and international underwriting, wholesale broking and related services.

It has been established to pursue a buy-and-build strategy within the international insurance intermediary sector, targeting specialist underwriting and wholesale broking platforms across the UK, Europe and the Middle and Far East.

Thompson said: “Our purpose is to build a market leading international group that will attract the brightest entrepreneurial talent.

”We will be looking to acquire in the broad international insurance intermediary space and already have a rich pipeline of M&A opportunities in play, which we expect to start realising very quickly. Going forward our plan is to build a truly meritocratic and entrepreneurial business that will create significant value for all our stakeholders.”

Investment

The new venture is backed by investor BP Marsh and Alliant Insurance Services, the fifth largest insurance intermediary group globally. Both are taking a 26.67% share in the firm.

There is also a consortium of other experienced insurance intermediary investors who make up the remainder of the investor panel.

Sean McConlogue, president of Alliant Underwriting Solutions and Consumer Solutions,  Bill Mecklenburg, EVP of Alliant Underwriting Solutions, Daniel Topping, chief investment officer at BP Marsh and Ian Whistondale, who co-founded Nexus in 2008, all sit on the board with Thompson.

Further board appointments are expected to follow in due course.

Thompson said: “This is a hugely exciting business opportunity, bringing together seasoned insurance intermediary investors and practitioners who share a vision for long-term, sustainable growth.”