14 April 2021Insurance

Xenia closes in on trade business of UK-based Credit Insurance Alliance

Xenia Broking Group, the credit insurance and surety specialist, has entered into an agreement to acquire the trade credit business of a UK based independent credit insurance broker.

Xenia is set to acquire the trade credit business of West Midlands-based Credit Insurance Alliance Brokers (CIA), which specialises in placing trade credit insurance which protects businesses against insolvency or default of their UK or overseas customers.

The transaction is expected to complete on May 10, 2021. Xenia will then integrate CIA’s business into its regulated entity Credit Risk Solutions (CRS).

Tim Coles, chief executive officer at Xenia, said the acquisition will be mutually beneficial for both parties. “CIA has built an excellent track record for client engagement, innovative solutions and service quality over the last 13 years - and CIA recognises Xenia as a natural home for its clients because of our specialism, expertise and culture of client service,” he said.

Deana Kearns and Eileen Barter, directors at CIA, said Xenia “understands our strengths and customer-centric values” and will provide first class service and expertise to its clients.

Did you get value from this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
12 January 2022   Tysers says it wants to focus on businesses where it has the expertise and opportunity to grow.
Insurance
1 December 2021   The deal is Xenia’s seventh in two and a half years.
Insurance
17 March 2021   Xenia will integrate Status’s trade credit business into Credit Risk Solutions.