Jonathan Macey, managing director of Lloyd’s broker Tysers’ marine division and one of the broker’s largest shareholders before its June sale to Integro, has left the company Re-Insurance reports.
It was in March this year that Integro Insurance Brokers, formed in 2005, announced an agreement to merge its UK Wholesale and UK Retail operations with Tyser & Co Ltd. Integro bought 100% of Hawkes Bay Holdings Ltd, the privately-owned principal parent company of Tysers.
The completion of the deal was announced in June this year. It is Integro’s largest acquisition to date, with the sum involved being slightly in excess of £100m.
It was announced that the combined wholesale business would trade under the Tysers brand and be led by Integro’s current Co-Heads of UK Wholesale, David Abraham and Jason Collins. Tysers’ UK Corporate team members joined Integro’s UK Retail team, overseen by Bob Pybus, Integro’s Head of UK Retail, and now trade under the Integro brand.
In March Integro confirmed that Christopher Spratt, Chairman of Tysers, and Peter Haynes, Non-Executive Director, would be joining Integro’s UK Board.
Tysers was private partnership before incorporating in 2001. In 2007, a buyout took place, resulting in it being 100% colleague-owned.
Integro, originally formed by former Marsh executives during a troubled period at the latter company, is owned by Odyssey Investment Partners LLC.
The deal marked Integro’s largest acquisition to date.