The latest acquisition news from South Africa for you;
Price Forbes South Africa, the independent specialist insurance broker, announces that it has agreed to acquire Dire Wolf Financial Services (Dire Wolf), a Western Cape-based specialist insurance broker. Dire Wolf has been part of the Titan Ventures portfolio, founded by Dr Christo Wiese.
The acquisition marks an exciting step in Price Forbes South Africa’s buy-and-build strategy. The acquisition of Dire Wolf will see it expand its Financial and Professional Lines offering, adding specialist expertise in cyber and medical malpractice and introducing a new High Net Worth offering.
Price Forbes South Africa was the country’s first insurance broker and has a heritage spanning more than one hundred years globally. This acquisition strengthens its capabilities further and broadens its offering in a competitive market. With roots in the local market and its strategic partnership with the wider Price Forbes group, it gives clients access to international placement and capacity when their needs extend beyond the region.
Antony Erotocritou, CEO of Price Forbes South Africa, said: “South Africa is a sophisticated insurance market, and there is a ripe opportunity for an independent specialty broker to lead it. Dire Wolf has built an outstanding reputation in financial lines, and Arlene is a highly respected and well-connected leader in the local market, making this a perfect match for us. Building on our recent senior hires across construction, trade credit and professional indemnity, this acquisition demonstrates once again our intent to build Price Forbes as South Africa’s leading independent specialty broker.”
Dire Wolf founder and managing director Arlene Steyl joins the Price Forbes South Africa executive team, bringing her specialist expertise and network of established relationships across the South African market. Before establishing Dire Wolf, she co-founded WeThinkCode_, which develops technology talent in Africa.
Dr Christo Wiese said: “South Africa needs more people who are prepared to build businesses. Arlene and the Dire Wolf team created a specialist firm in a very traditional industry. Price Forbes South Africa gives them the platform to take that further. There is real opportunity in this market, and I am pleased to see two teams that believe in building something bigger come together. I plan to continue using them as my preferred insurance adviser.”
Steyl added: “Dire Wolf was founded with the intention of building a business our clients could trust, and I am proud of what the team has achieved. For a successful, independent broker looking to preserve its identity and specialist focus while benefiting from the capabilities of a larger platform, Price Forbes South Africa feels like a natural home. I am looking forward to joining the management team and continuing to deliver bespoke insurance advisory services for our clients.”
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