Monday 16 August, 2021
C&C Insurance Group have confirmed the acquisition of RiskAlliance Direct Limited from Accelerant Insurance for an undisclosed amount.
C & C GB Holdings, a part of C&C Insurance Group, has secured an investment from Yarab Capital to assist this purchase. The acquisition is in partnership with Wallenberg and Schindler Limited.
Who Are RiskAlliance Direct?
RiskAlliance Direct was established over a decade ago to provide small and medium-size businesses with an insurance package created to meet all their specific business insurance needs.
They offer a variety of insurance packages to a variety of retail businesses including but not limited to restaurants, takeaway shops, hotels, as well as pubs and bars.
Each of their packages come with core protection and optional extensions to cover more scenarios. They have over 25,000 current policyholders.
RiskAlliance Direct’s diverse customer support team speaks to its clients in their first language, so they can fully grasp and understand the requirements of their situation. Languages include Cantonese, Mandarin, Urdu, Hindi, Gujarati, and Spanish.
A view to the future, with industry expertise now
Since taking over C&C Insurance Group in 2018, owner Niraz Buhari has put in place a strong vision for the future. The group has expanded globally in the highly regulated financial services and insurance sector with employees in its UK, US, UAE, India, Guernsey and Bermuda operations. The company is diversifying into different insurance sectors whilst ensuring continuing great service to their existing clients.
Always looking to the future, City & Commercial is currently developing a number of insurtech products to lead the insurance sector into the 21st Century. The insurance industry is something that can be revolutionised with further implementation of technology over the coming years. Efficiency and effectiveness can be further increased to offer customers fast and suitable solutions.
City & Commercial group partnered with Bournemouth University, developing AI for underwriting and claims handling. AI will assist in speeding up claims processing and offering payouts to customers. It’s the future of claims handling and yet is something not adopted by over half of the industry.
With the acquisition of RiskAlliance Direct Limited, C&C Insurance Group is broadening its coverage from sectors offering both personal lines insurance and commercial insurance products. C&C Insurance Group already has a strong consumer presence with its Smart Cover and Inzurly brands.
City and Commercial Insurance, a part of the C&C Insurance Group, has been in the market for over 25 years now, with vast experience, knowledge and relationships enabling them to offer quality insurance solutions to all sectors.
Their huge professional network of brokers and partners have assisted customers both large and small with solution-based proposals.
City and Commercial are a Guernsey-based insurance company, offering a variety of underwriting solutions for domestic and international markets, including the use of Protected Cell solutions.
Continued growth with increasing investment
Always open to new opportunities and investment, City & Commercial work in tandem with their expert partners to ensure success and understanding for all involved. No matter the industry, they have partners who can work with and help those needing investment or opportunity.
Many comprehensive distribution structures allow the company to manage risk for an ever-increasing collection of insurance products around the globe. This acquisition is just one of a few that City & Commercial have made since Niraz Buhari took over in 2018.
Alongside committed investment into Insurtech, partners can maximise savings with the efficient and effective solutions that City & Commercial offer.
More acquisitions to come?
City & Commercial owner Niraz Buhari has not commented on the future of the company, however with a number of acquisitions over recent years, it’s clear that the company’s growth plan indicates that there are more to come in the near future.
It’s clear to see, City & Commercial continues to look at expanding its industry reach and expertise, growing as a company, innovating and reinvesting as they move forward to make the market better for all involved.
Their partnership with Bournemouth University only highlights their intentions of becoming a market leader in efficiency and innovation. A goal that, with more acquisitions like this one, may soon become a reality.
Distributed by https://pressat.co.uk/
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