GOAT Insurance, a UK-based commercial insurance provider, has completed its first strategic acquisition with the purchase of the full book of business from IGG Insurance.
The acquisition marks the start of the company’s expansion strategy within the UK market.
As part of the deal, GOAT Insurance plans to implement new systems, including customised technology platforms designed to support its operations. The company also intends to collaborate with a UK university to develop AI tools aimed at improving client service and streamlining processes. These developments are intended to support a wide range of business clients, including start-ups and growing enterprises.
IGG Insurance operates as the trading name of Rockland Risk Services. The firm was founded by broker Naeem Chhabu and has expanded with a focus on client needs. With Chhabu stepping back from the business for personal reasons, GOAT Insurance identified the opportunity to acquire IGG's book and integrate its operations.
Following the acquisition, IGG Insurance managing director Adam Watts and his team will join GOAT Insurance. The integration of teams is expected to provide continuity for clients and enhance the company’s ability to support businesses navigating insurance requirements.
Phil Hayes, co-owner and director of GOAT Insurance, stated that the company and its investors had taken time to find a suitable acquisition to strengthen the business model. According to Hayes, Adam Watts and his team bring relevant experience that aligns with GOAT Insurance’s future plans for growth and operational development. Hayes also acknowledged the role of Naeem Chhabu in building IGG Insurance, describing it as a business with a strong foundation that GOAT Insurance intends to continue developing.
GOAT Insurance is the trading name of Sentreos Ltd. The company is actively pursuing further acquisitions to expand its presence across the UK. Co-owned by Phil Hayes, a former co-founder of BGL Group, the firm aims to take a technology-focused approach to growth in the commercial insurance sector.
