Icen Risk Attracts Zurich's Strategic Investment to Fuel Global Expansion

Zurich Insurance Group, a leading global multi-line insurer, has announced a strategic investment in Icen Risk, a specialist M&A insurer renowned for offering bespoke coverage for Warranty & Indemnity, Tax, IP, and Environmental risks in European mid-market mergers and acquisitions (M&A). The transaction is expected to secure regulatory approval and reach completion by Q3 2025, leading to Zurich acquiring an equity stake in Icen Risk. This move underpins Zurich's intent to support the rollout of new insurance products and broaden their reach across geographies. While Icen Risk will sustain its operations independently under its renowned brand and leadership, the transaction terms designate Stephen Moss, Global Head of Financial Lines and Cyber at Zurich, as a new member of the Board of Directors at Icen Risk. Icen Risk, founded in 2018 by Dawn Bhoma and Rob Brown, already commands a strong presence in private company M&A insurance with gross written premiums surpassing 70 million. Their expertise in underwriting profitability and a record of substantial growth complements Zurich's strategic growth ambitions in the Specialties market, positioning them collectively to better serve global M&A clients. In alignment with the partnership, Icen Risk aims to leverage Zurich's expansive brand and international network to extend its presence not only across Europe but also in North American markets. With the projected overall M&A insurance market valued at 2.5 billion and experiencing substantial growth, the collaboration between Zurich and Icen Risk appears poised to significantly influence the industry landscape. The partnership is intended to develop innovative solutions addressing emerging risks while also capturing new opportunities as the market expands.