Albion Ventures invests £2m in Innovation Broking
Venture capitalists say they will help broker’s growth plans.
Venture capitalists Albion Ventures will invest £2m in Innovation Broking to help its growth plans.
Innovation, which is based in Watford and led by CEO Paul Dickson and managing director Howard Pearson, said it will be targeting clients seeking insurance for technology-related risk exposures.
That includes global property, liability, package, professional indemnity, fleet, directors and officers insurance according to the broker.
The firm said its growth strategy will be driven by leveraging the management’s industry contacts to recruit specialist individuals looking to operate in a more entrepreneurial environment.
Dickson commented: “We are very pleased to have attracted this investment from Albion, which will underpin our ambitious growth plans.
“Albion’s experience in backing high growth businesses will be invaluable as we execute our exciting expansion programme centred round advising businesses in the digital world.”
Will Fraser-Allen, deputy managing partner at Albion Ventures added: “We are excited to be investing in Innovation and look forward to working closely with Paul Dickson and Howard Pearson to grow their business over the coming years.
“Innovation is extremely well placed to attract leading talent into the business and their expertise in providing board level advice in fast growing areas such as cyber liability has already generated a strong list of clients.”
By Larry Ferguson in Insurance Age