Robertson Taylor, one of the world’s leading names in music events insurance, has been fully acquired by fast-growing global brokerage and risk management firm Integro Insurance Brokers Holdings Ltd.
Integro has acquired the parent of Robertson Taylor Insurance Brokers Ltd, the London-based Entertainment Insurance Partners Limited (EIP), for an undisclosed sum.
EIP, an insurance broker specializing in Entertainment and Sports, has offices in London, New York, Los Angeles, Atlanta and Nashville.
EIP also owns the likes of Robertson Taylor International Insurance Brokers Inc., Walton & Parkinson Ltd., Longreach International Ltd and ESIX LLC.
According to its latest accounts filed with Companies House, EIP’s operating profit improved by 42% to £1.05m in FY 2014 (to end of December), with group revenue of £16.93m.
Robertson Taylor CEO John Silcock and James Davies, Global Sales & Marketing Director, will continue in leadership roles and report to Neil Clayton, Integro’s global Entertainment and Sport practice leader.
EIP has insured nine out of the top ten highest grossing music tours of all time and handled fourteen of 2014’s top twenty grossing tours. Last year, EIP handled insurance premiums of over £100m with more than 60% generated internationally.
“Integro and EIP have complementary skills and teams, which make this alignment of forces beneficial to clients and very exciting for all of us,” Integro’s Neil Clayton said – possibly referring to the fact that Integro owns Doodson, traditionally something of a rival to Robertson Taylor.
“Together, EIP and Integro will become a combined force with unrivalled expertise.”
John Silcock, Robertson Taylor
“Our strategy is to continue expanding our global Entertainment and Sport Practice, employing the skills of our combined businesses to add new products and services for clients in all geographies.”
EIP is the largest and most recent in a series of acquisitions by Integro, which include UK based Ellis Clowes in November, serving the global motorsports industry; Entertainment Risk Management Ltd. in August, primarily serving brokers specializing in the film and television media industry; Stonehouse Conseillers in 2014, servicing the needs of commercial film production companies and international advertising agencies; entertainment and sports specialist Doodson Broking Group in 2013; and Allan Chapman James in 2012, specializing in independent film, television and media industry sectors.
North American entertainment sector acquisitions have included Ventura Insurance Brokerage, Inc. (NY) in 2014, serving the film, television, media and theatre industries; Canada’s Multimedia Risk Inc. in 2013, serving the international film and television production industry; and Frost Specialty, Inc. in 2010, which focuses on the music industry from its Nashville base.
“The entertainment and sport business is a global business,” John Silcock commented.
“Together, EIP and Integro will become a combined force with unrivalled expertise, client and carrier relationships. It’s the start of a fantastic long-term partnership with a company that has a track record for innovation and an unwavering commitment to clients.”
Integro Ltd. Chief Executive Officer William Goldstein added: “It is a very exciting time as we bring two of the biggest brands in the sector together.
“We look forward to integrating and enhancing our comprehensive offerings to become the leading provider of insurance and risk management solutions to the entertainment and sports sector globally.”
Integro says that it ‘specialises in designing insurance policies that are responsive to the emerging needs and requirements of filmmakers, producers, broadcasters, entertainers, bands & artists, promoters, festivals, venues, industry associations, distributors, managers, freelancers, songwriters, recording studios and anyone, anywhere engaged in the business of show business’.Music Business Worldwide
