Wed, 28 May 2025 | BUSINESS SALE
A Leicester-based commercial insurance provider has completed its first acquisition in a planned UK expansion strategy, with a deal for the full book of business of a Manchester-based counterpart.
Goat Insurance has acquired the full book of business of IGG Insurance, the trading name of Rockland Risk Services Limited, in a deal it describes as “a significant milestone”. According to the buyer, the acquisition “signals the start of a bold growth trajectory in the UK insurance sector”.
Following the acquisition, Goat Insurance says it will aim to implement new systems, such as customised technology platforms to supports its operations. The firm is also planning to collaborate with a UK university on developing AI tools to streamline processes and improve client services, with the aim of supporting a wide range of business clients.
As part of the deal, IGG Insurance Managing Director Adam Watts and his team will join the Goat Insurance team, providing enhanced support for clients. IGG Insurance founder Naeem Chhabu, meanwhile, is stepping back from the business.
Goat Insurance, the trading name of Sentreos Limited, provides tailored commercial insurance services and is undertaking an M&A-led growth strategy across the UK, saying it is “actively pursuing a pipeline of strategic acquisitions to expand its footprint in the UK”.
Following the company’s first acquisition, Goat Insurance co-owner and director Phil Hayes said: “Along with my fellow investors, we’ve waited patiently to find the perfect fit to enhance our business model. Watts and his team bring experience and energy perfectly aligned to our future plans for growth and innovation.”
Hayes also highlighted the role played by founder Naeem Chhabu in building IGG Insurance, saying the business had strong foundations that Goat Insurance will seek to continue developing.
Read more about insurance M&A trends:
Insurance M&A in the UK - has broker activity peaked?
Slow start to 2025 for UK insurance M&A
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