Oakley Capital’s Oakley Capital Fund V is investing in Konzept & Marketing, a leading, independent managing general agent (MGA) in the German, personal non-life insurance market. Oakley will be investing alongside insurance veteran, Joachim Müller, former CEO of Allianz Commercial, who will oversee a buy-and-build strategy as chairman of the business.
Oakley Capital Investments’ look-through share of the deal is expected to be about £14m. The acquisition is expected to complete before the year end.
Founded in 2001 and based in Hanover, Konzept & Marketing operates as an underwriting agent in Germany for private non-life insurance products (property, accident, liability). Oakley says that this is a growing market that is currently worth €28bn. The business develops, markets and administers tailored insurance products on behalf of insurance companies, giving them access to product through an asset light model.
Konzept & Marketing has delivered continuous organic growth, underpinned by high and consistent renewal rates. The statement says that this is the result of a strong reputation for customer care and a focus on providing innovative solutions delivered through seamless digital processes.
In contrast to markets such as the UK and US, Germany’s insurance distribution market is highly fragmented. Oakley feels that there is significant value creation potential for Konzept & Marketing to pursue a consolidation strategy spanning insurance brokerage and underwriting with differentiated product capabilities at its core.
OCI : Oakley Capital backs Konzept & Marketing
