With the buy-out, the Spanish social network – which connects users based on their taste in live music – is now active in more than 20 countries
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Global insurance brokerage and risk management firm acquires parent company of RTIB for undisclosed sum.
By IQ on 17 Dec 2015
Global insurance brokerage and risk management firm Integro Insurance Brokers Holdings has acquired London-based Entertainment Insurance Partners Ltd (EIP), the parent company of Robertson Taylor Insurance Brokers.
Financial details were not disclosed, but the transaction has been approved by the Financial Conduct Authority in the UK, and the deal effectively means that Robertson
Taylor and rival firm Doodson are now both owned by Integro, bringing together two of the biggest brands in the live music insurance business.
“Integro and EIP have complementary skills and teams, which make this alignment of forces beneficial to clients and very exciting for all of us”
The purchase of EIP encompasses Robertson Taylor Insurance Brokers Ltd., Robertson Taylor International Insurance Brokers Inc, Walton & Parkinson Ltd, Longreach International Ltd, and ESIX LLC. Integro says that EIP has offices in London, New York, Los Angeles, Atlanta and Nashville.
Robertson Taylor CEO John Silcock and James Davies, global sales and marketing director, will continue in leadership roles and report to Neil Clayton, Integro’s global entertainment and sport practice leader. “Integro and EIP have complementary skills and teams, which make this alignment of forces beneficial to clients and very exciting for all of us,” states Clayton. “Our strategy is to continue expanding our global entertainment and sport practice, employing the skills of our combined businesses to add new products and services for clients in all geographies.”
EIP provides customised insurance and risk management services to artists, promoters, venues, productions and companies across the globe. It has insured nine out of the top ten highest grossing music tours of all time and handled 14 of 2014’s top 20 grossing tours. EIP handled insurance premiums of over £100million (€138m) during 2014, with more than 60% generated internationally.
The most recent purchase is the latest in an aggressive acquisitions programme by Integro. Other deals include UK-based Ellis Clowes in November, serving the global motorsports industry; Entertainment Risk Management Ltd in August, primarily serving brokers specialising in the film and TV industry; Stonehouse Conseillers in 2014, servicing the needs of commercial film production companies and international advertising agencies; entertainment and sports specialist Doodson Broking Group in 2013; and Allan Chapman James in 2012, specialising in independent film, TV and media industry sectors. North American acquisitions have included Ventura Insurance Brokerage, Inc in 2014, serving the film, TV, media and theatre industries; Canada’s Multimedia Risk Inc in 2013, serving the international film and TV production industry; and Frost Specialty, Inc in 2010, which focuses on the music industry from its Nashville base.
Robertson Taylor’s Silcock comments, “Together, EIP and Integro will become a combined force with unrivalled expertise, client and carrier relationships. It’s the start of a fantastic long-term partnership with a company that has a track record for innovation and an unwavering commitment to clients.”