’Trawick is in an unprecedented period of expansion,’ says president and chief executive
US-owned insurance provider Trawick International has acquired a controlling stake in UK-based broker Greenlight Insurance Services as part of its expansion strategy.
Essex-based Greenlight Insurance, a coverholder at Lloyd’s, was established in 1996 and provides cover for motorsport, modified vehicles and collectors.
Trawick explained that the investment in Greenlight further diversifies the Trawick portfolio and strengthens the company’s position in the UK.
The acquisition will result in Greenlight becoming a part of the globally operating “Trawick family” of companies.
Greenlight Insurance offers a range of brands to global consumers and partners.
These include Trawick International, operating in the US, Canada, UK, Europe and the Cayman Islands, SureGo Administrative Services and Tuman Global Solutions.
The company also provides motor insurance cover to expatriates, under its Eaglesure brand.
Daryl Trawick, president and chief executive of Trawick International, said: “Trawick is in an unprecedented period of expansion.
“Investing in Greenlight will help accelerate the company’s strategy of growth and diversification.”
Partnership
Established in 1998, Trawick International is a London-based subsidiary of Trawick Holdings and offers products and services for travel insurance.
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Tony Fehily, managing director of Greenlight Insurance, said: “I am delighted that Trawick International has taken an interest in Greenlight.
“We believe the partnership will strengthen Greenlight’s market position and create many opportunities in the future.
“Due to the complementary nature of our two businesses, it was an easy decision for us to join forces with Trawick and I look forward to our future endeavors together.”
Trawick added: “I am thrilled that the remarkable team at Greenlight was open to a partnership.
“Their business interests and innovative culture align with ours, and the affiliation is certain to be mutually beneficial.”
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