The surety and credit specialist. Xenia Broking Group Limited (‘Xenia’), announces today that it has acquired a majority stake in Capstone Insurance Brokers Limited (“Capstone”), a Hong Kong-based insurance broker with specialist expertise in financial lines and digital asset insurance. This acquisition marks the start of Xenia’s international expansion and broadens the broking group’s product offering into new and emerging classes of business.
This is Xenia’s ninth acquisition in three transformational years, which has seen the independent broking group grow to become one of the largest credit insurance and surety specialists in the UK. Capstone will manage the business post-transaction and retain a minority share.
Tim Coles is the CEO of Xenia Group. “This is a transformative deal for Xenia, marking our first international acquisition and adding breadth and diversity to our product range as we develop our vision to become the leading specialist broker for credit, financial risks and financial lines insurance internationally.
Capstone’s three-year-old success has been a testament to their entrepreneurial skills. Capstone has been a leader in Asia for digital asset and financial insurance, and they have proven to be a great team with great entrepreneurial skills and agility.
Their expertise and our shared hunger for growth – which we will support with our M&A experience and capital – undoubtedly creates a unique force to be reckoned with in the Asian insurance market.”
David Halley is the Co-Founder and Managing Partners of Capstone. “We are delighted to have found in Xenia a business that shares our vision, outlook and ambition. We will be able to accelerate our growth plans by using the union to attract top Capstone talent and to help us execute our acquisition strategy.
We also look forward to broadening our product offering across Asia, including for credit and financial risks for which Xenia has unparalleled experience and expertise.”