Lloyd’s broker will return to the original name of Lochain Patrick it had before Oval Group buy
H W Kaufman Financial Group has bought Lloyd’s marine and energy broker Oval International as it plots to expand its London presence.
Oval International will also return to its original name of Lochain Patrick before it was purchased by the Oval Group in 2005.
Thew company’s executive leadership and extended team will continue in their existing roles following the acquisition.
Lochain Patrick managing director Andrew Hills said: “We see the Kaufman Financial Group as the ideal strategic partner.
“They are a major global player, have shown a commitment to sustainable growth in London and possess the long term financial strength and security to invest in our future.”
Oval International is the second acquisition by Kaufman in two years as the US broker plots to expand its London presence.
It bought Lloyd’s broker The Chesterfield Group in 2012. The firm specialises in property/casualty, professional, personal accident and other specialty lines.
Kaufman president and chief executive Alan Jay Kaufman said: “The acquisition of Lochain Patrick adds an important dimension to our company and signals our ongoing interest in adding like-minded, independent and entrepreneurial brokerage teams to our London operation.”