Tim Coles, Chief Executive Officer of Bridge Specialty International, said: “This acquisition establishes us in the Singapore insurance market, further expanding our Asia presence and enabling us now to build a leading wholesale and specialty hub in the region. David and his team have a long-standing, exceptional reputation and we are looking forward to working with them.”
London:Bridge Specialty International, the international division of Bridge Specialty Group, Brown & Brown’s wholesale and specialty brokerage group, announces today that it has completed the acquisition of Acorn International Network Pte Ltd (“Acorn”), a Singapore-based insurance broker.
Established in April 2011, Acorn is a highly regarded broker licensed by the Monetary Authority of Singapore. It will continue to be led by founder and Chief Executive Officer David Ong, who has over 45 years’ experience in the sector.
Tim Coles, Chief Executive Officer of Bridge Specialty International, said: “This acquisition establishes us in the Singapore insurance market, further expanding our Asia presence and enabling us now to build a leading wholesale and specialty hub in the region. David and his team have a long-standing, exceptional reputation and we are looking forward to working with them.”
Bridge Specialty International already operates in Asia through Capstone Insurance Brokers Limited, a specialist in financial lines and digital asset insurance based in Hong Kong. Capstone and Acorn will collaborate closely to drive growth in their respective areas of specialisation as well as attracting talent and capabilities to broaden our reach for our customers, producers and coverholders globally.
David Ong, Founder and CEO of Acorn, added: “Today marks an exciting new chapter for Acorn. By joining the Bridge Specialty International team, we are well-positioned to enhance our offerings and grow our footprint in Singapore and beyond. Together with Capstone we will build on our shared specialties to deliver exceptional value to our customers across the region.”