Fenchurch Advisory Partners is pleased to announce that it acted as exclusive financial adviser to Insurance Australia Group (“IAG”), the majority owner, and the minority shareholders on the sale of Insurance Dialogue Limited (“IDL”) to Arthur J. Gallagher.
Trading under the brand Insure4Retirement, IDL is a niche retail broker specialising in personal lines insurance for the over 50s market. It generated £40 million in premiums in 2011 with 150,000 policyholders and employs 170 people primarily based within its outbound call centre in Bournemouth.
Andrew Gibson, CFO of IAG in the UK commented: “We found Fenchurch's hard work, professional approach and clear advice to be invaluable over the course of this process. We have been impressed by how Fenchurch managed the various stakeholder interests and negotiated a successful outcome for all in what was a complex transaction for its size.”