IK Partners to invest in Seventeen Group

IK Partners (“IK”) is pleased to announce that the IK Partnership III (“IK PF III”) Fund has signed an agreement to acquire a minority stake in Seventeen Group (“Seventeen” or “the Group”), a leading independent insurance and risk management organisation in the UK, from the founding shareholders and management team. This transaction represents IK’s first investment in the UK Insurance market, building on a well-established track record of supporting similar businesses across Europe. Financial terms are not disclosed and completion of the transaction is subject to customary regulatory approvals.

Founded in 1982 and headquartered in London, UK, Seventeen is a multi-disciplinary insurance group which provides a comprehensive range of services, including broking, underwriting, risk and claims management.

The Group comprises:

• James Hallam, a UK-wide brokerage platform focused on serving commercial, personal, specialty and high-net-worth clients domestically and globally.
• Touchstone, a specialist independent managing general agency servicing more than 550 brokers.
• London Re, a joint venture with MRH Trowe and domiciled in Düsseldorf, Germany.

At present, Seventeen operates from 25 offices across the UK, DACH and the Isle of Man, collectively managing around £400 million in premiums.

The investment represents a major milestone in Seventeen’s history. With the support of IK, the Group aims to further accelerate its growth, enhance innovation and leverage technology to capitalise on attractive opportunities in new and existing markets — all while staying true to the core values that have shaped the business to date.

Paul Turner, Executive Chairman and Paul Anscombe, CEO, said: “Seventeen Group is proud to be the UK’s longest-serving independent insurance distribution group of scale. As we enter this next phase of growth, we are delighted to welcome the team at IK who share the passion and belief that our independent model provides a differentiated proposition for our clients, acquisition partners and colleagues. This long-term investment reflects the conviction in our strategy, the opportunities ahead and most importantly, is testament to the hard work of our staff which has enabled a great business to be built.”

Adrian Tanski, Partner at IK and Advisor to the IK PF III Fund, added: “We have been very impressed by Seventeen’s journey to date and believe that the Group is well positioned to continue its strong development, off the back of its strong customer service focus, broad coverage of the value chain and longstanding expertise in the insurance brokerage and underwriting space. We are excited to work with both the Pauls and their team to further develop the Seventeen platform and pursue consolidation opportunities in the UK and beyond.”

For further questions, please contact:

Seventeen Group
Jackie Knight
Group Marketing and Events Director
Phone: +44 (0)7824 486319
jackie.knight@seventeengroup.co.uk

IK Partners
Vidya Verlkumar
Director of Communications and Marketing
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com