Brookfield Underwriting (Brookfield), the leading specialist Stockholm-based high net worth MGA, today announces it has been acquired by Säkra, one of Sweden’s largest insurance intermediaries, which itself has just been acquired by private equity investment firm Cinven. Terms of the transaction are not disclosed.
Founded in 2010 by chairman Laurent Schonbach and CEO Leonard Münz, Brookfield specialises in fine art, jewellery and high value homes, with clients primarily in the Nordics. It has capacity from leading international insurers, including Lloyd’s of London. Brookfield will continue as a separate company, serving all brokers in its market under its own brand and Münz’s leadership.
The acquisition is a strategically important milestone for Säkra, furthering its ambition to offer enhanced and comprehensive services to private and corporate market clients.
Insurance Advisory Partners, the specialist insurance M&A, strategic and capital-raising advisory firm was retained as sole advisor to Brookfield in the transaction.
Schonbach said: “Säkra has already shown determination and success by rapidly expanding within life and non-life insurance broking and wealth management services. Säkra’s support will allow Brookfield to replicate this success in the MGA market.”
Münz added: “We have an exceptional proposition when it comes to specialty insurance for high-value property. I look forward to continuing our growth journey as part of Säkra.”
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