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Belgian company insurance coverage brokers Induver and Clover have unveiled plans to merge, creating a brand new entity with enhanced market presence.
Hg, an investor in software program and repair companies, will help the merged firm as a shareholder, fuelling strategic progress initiatives.
Hg-managed HgCapital Belief (HGT) will make investments round £6.7m (€7.84m) in Induver, with extra funds coming from different institutional purchasers via the Hg Mercury 4 Fund.
Established in 1990, Induver operates as an insurance coverage dealer for business and company purchasers in Belgium.
Clover, launched in 2019 by an area household brokerage, specialises in B2B and area of interest insurance coverage merchandise.
HGT mentioned the merger guarantees a synergistic mix of Induver’s high-end market place and technical experience with Clover’s specialty insurance coverage expertise.
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HGCapital companions Joris Van Gool and Bernd Tahon mentioned: “We’re excited to be a part of this vital second for 2 high-quality companies, who each share wonderful reputations. We consider this high quality will strengthen additional as the 2 groups mix their sturdy technical, business and platform capabilities.”
The founders of each firms will retain their management roles throughout the new group.
Marc Van Nuland, an insurance coverage business veteran with greater than three many years of expertise within the Benelux area, will assume the position of government chairman on the mixed entity.
Induver managing administrators Seppe Sijmons, Mieke Verstraeten and Sjarel De Bondt mentioned: “We’re delighted to hitch forces with the spectacular Clover crew and construct a very wonderful providing to our purchasers.
“Bringing in Hg’s intensive expertise in insurance coverage, notably their digitisation capabilities, in addition to Marc’s data and management on this sector, provides us a really sturdy place for additional progress, each organically and non-organically.”
Clover companions Viktor Roelandt, Laurent Claes and Olivier Claes mentioned: “We instantly recognized a typical DNA between Clover and Induver and our discussions in latest months have greater than confirmed that. With our shared ambitions, we now have excessive aspirations to turbocharge our mixed enterprise.”
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