News

Insurance

Staff Reporter

, Singapore

Published:

2 years ago

347 views

/Pixabay

Bridge Specialty International acquires Singaporean insurance brokerage business

The transaction is expected to finish in the first quarter of 2024.

Brown & Brown Europe's Bridge Specialty International, a wholesale and specialty brokerage group, will acquire Acorn International Network, a Singapore-based insurance broker.

The transaction, expected to conclude in the first quarter of the year, is contingent upon regulatory approval from the Monetary Authority of Singapore (MAS).

Acorn, established in 2011 and licensed by the Monetary Authority of Singapore, is led by CEO David Ong, bringing over 45 years of industry expertise.

ALSO READ: Roojai acquires Indonesian insurer, Lifepal

Following the acquisition, David Ong and his team will continue to manage the business.

In a statement, the acquirer said the strategic move allows Bridge Specialty International to establish a presence in Singapore's insurance hub, expanding its Asia platform alongside Capstone Insurance Brokers Limited in Hong Kong.

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