Burness Paull advises Icen Risk on strategic investment by Zurich Insurance Group

Burness Paull was pleased to advise Icen Risk, a leading specialist M&A insurer, on a significant strategic investment by global insurance company Zurich Insurance Group.

The investment will support Icen’s ambition to expand its presence in the rapidly growing M&A insurance market across Europe and North America.

Icen was founded in 2018 by insurance industry veterans Dawn Bhoma and Rob Brown and has rapidly become a market leader in private company M&A insurance, with gross written premium (GWP) of £70 million. The company offers bespoke coverage for warranty and indemnity, tax, IP, and environmental risks in European mid-market M&A transactions.  

The transaction will see Zurich take a minority equity stake in Icen, building on the existing relationship between the two companies, with the investment supporting the roll out of new products to additional geographies.

The Burness Paull team advising Icen was formed of Grant Stevenson, Daniela Pallucci, Mallory Hornsby, and Murray Frame.

Grant Stevenson, corporate finance partner at Burness Paull, said: “We’re grateful to Icen Risk for trusting us to advise them on this strategic investment by one of the world’s leading insurers. The transaction reflects Icen’s considerable success to date and will support further expansion as the company continues to deliver innovative solutions and builds on the strong reputation it as built in the rapidly growing M&A insurance market.”      

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