InsurEvo Group
Liberty advises the management team of InsurEvo Group on its acquisition by NSM Insurance Group
Liberty Corporate Finance is delighted to announce they have advised the management team of InsurEvo Group (including AllClear Insurance, InsureandGo, and JustCover), on its sale by Synova to US headquartered specialist insurance provider, NSM Insurance Group.
The transaction, which remains subject to regulatory approval, will generate a return of 7.3x invested capital to Synova.
Following Synova’s investment, and under CEO Chris Rolland’s leadership, InsurEvo has transformed in scale and profitability, increasing revenues fivefold to £60m and placing £150m of GWP into the market this year, a sixfold increase in the investment period.
InsurEvo’s growth was delivered through a significant investment in best-of-breed technology, including actuarial AI, to capitalise on its unique data sets and the delivery of a highly effective multi-year sales and marketing strategy. The Group has provided cover to more than 4 million travellers, additionally allowing essential access to travel cover to people living with pre-existing medical conditions.
Liberty’s advice was invaluable in guiding the management team through the transaction and I would thoroughly recommend them to any management team seeking specialist advice. Thank you to Simon, Rory and Brock for all their hard work and support.
Chris Rolland
CEO of InsurEvo
In the years since Synova’s investment, Chris has built a formidable team and together they have taken the business through an outstanding journey, with both organic growth and transformational strategic M&A delivering fantastic results – the acquisition by NSM demonstrating the strength and quality of the InsurEvo group today. It has been an absolute pleasure to be part of the exit success story and we wish them every success as they join the NSM family.
Simon Hill
Partner
+44 (0) 7813 601 051
simon.hill@liberty-cf.com