Acrisure expands in UK through TEn acquisition

The plan is to grow the network and build a Directly Authorised broker division to complement the existing Appointed Representative network, all within one infrastructure. Eleven Network is promising members enhanced commissions, exceptional core services and bespoke and exclusive products, as well as a culture of complete transparency.

TEn Managing Director Dawn Derbyshire and her team will remain in place, augmented and supported by key Acrisure appointments, including Andy Fairchild, former CEO of Broker Network, as Chair of Acrisure Networks; David Bruce, former Marsh Commercial CEO and COO, who has joined as CEO of Acrisure Networks and COO of Acrisure UK; Simon Cooter, most recently Commercial Lines and High-Net-Worth Director at Covea, who will be a Non-Executive Director of TEn; and Shahram Shayesteh, former Head of Compliance at The Standard P&I Club, who has joined as Chief Risk Officer for Acrisure UK Retail, including Eleven Network.

Said Dawn Derbyshire: “We couldn’t have picked a better partner than Acrisure to take TEn to the next level. We are incredibly privileged to have such loyal members of our network, many of whom have been with us for several years. We are excited to bring the benefits of Eleven Network to our existing members and the rest of the market.”

David Bruce commented: “This acquisition of TEn is an exciting step for Acrisure in the UK as we launch Eleven Network; a transparent network that listens to and delivers for Appointed Representatives and independent brokers in the UK. TEn is known for its fairness and transparency, values that will remain sacrosanct under the new ownership, supported by Acrisure’s own mission to be the most trusted advisor in the industry. By keeping the same leadership team in place, the takeover has ensured continuity where it matters, while bringing transformation to areas of the business that are ripe for development.”

Andy Fairchild added: “Supporting Independent Brokers will always be in my heart and soul. Our challenge is to build Eleven Network to continuously listen to our members, with complete transparency to the market, and relentlessly delivering on our promises. The ambition, culture and technology in Acrisure provides the perfect home. Our journey starts today.”

The deal is expected to close in the near term, pending FCA approval.