Zurich Insurance Company has made a strategic investment in specialist M&A insurer Icen Risk. Icen said the deal would support its plans to grow its footprint both in Europe and North America. Icen control gross written premium of approximately £70m and has coverholder status at Lloyd’s. It offers warranty and indemnity, tax, IP, and environmental risks cover in European mid-market M&A transactions. It aims to offer a wider product suite in additional territories following the investment.

Dawn Bhoma, managing principal of Icen, said: “Icen’s talented team and our blue-chip capacity providers have helped accelerate our growth in a market which has expanded 50% in the last 5 years. We are delighted that our success to date has culminated in this investment by one of the world’s leading insurers. Zurich’s global brand, international network, and product expertise will take us to the next level in the specialist M&A insurance market and deliver more choice for clients.”

The transaction is subject to regulatory approval and is expected to close in Q3 2025.