Ecclesiastical sells SEIB to Lloyd & Whyte
Ecclesiastical Insurance has sold SEIB Insurance Brokers to associated business Lloyd & Whyte for £45.2m, the insurer has confirmed.
Ecclesiastical, part of Benefact Group, which rebranded last year, bought SEIB in 2008.
Ahead of the name change Benefact had invested in Lloyd & Whyte in 2020, taking a 20% stake.
Ecclesiastical updated that the shareholding in Lloyd & Whyte has been increasing over time, with full ownership expected to happen in 2026.
As previously revealed by Insurance Age, Lloyd & Whyte CEO Matthew Pyke joined the board of SEIB last year.
StructureAccording to Ecclesiastical, in the wider Benefact
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