R K Harrison acquires Bowood Holdings
Independent retail and wholesale insurance and re-insurance brokers firm R K Harrison Holdings has completed its takeover of Lloyd’s broker Bowood Holdings, supported by The Royal Bank of Scotland (RBS).
R K Harrison has been assisted with a debt facility from RBS, created by the bank’s Financial Institutions Group (FIG) and Corporate Leveraged Finance team.
In addition to this, RBS is providing a roll credit facility, enhancing the firm’s flexibility and control.
It was nine years ago that R K Harrison completed a management buy-out from Hiscox Harrison Ltd, and in the same year the firm created its first of many wholesale divisions.
Now the firm handles large multi-nationals and high net worth clients, providing them with customised insurance solutions for their particular needs, and its nine trading divisions operate from its Bermuda base.
R K Harrison’s chief executive, Paul Bridgwater, has said that Bowood Holdings is both a good strategic for the firm, as well as bringing with it a talented team of professionals.
Category: Insurance News
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