GOAT Insurance Completes First Acquisition in Growth Push

GOAT Insurance has completed its first acquisition through the purchase of IGG Insurance's entire book of business, marking the opening move in an expansion strategy designed to capture market share in the UK commercial insurance sector.

The deal brings IGG Insurance's client portfolio under GOAT's management, with IGG managing director Adam Watts and his team joining the acquirer. 

IGG Insurance operates as the trading name of Rockland Risk Services and was established by broker Naeem Chhabu, who is stepping back from the business to spend time with family.

GOAT Insurance operates as the trading name of Sentreos Ltd and is co-owned by Phil Hayes. The company provides tailored commercial insurance solutions to UK businesses.

Technology Investment Accompanies Deal

The acquisition coincides with GOAT's investment in new technology systems aimed at enhancing client service delivery. 

The company plans to develop artificial intelligence tools in collaboration with a UK university, targeting improved client experience for businesses ranging from startups to scaling trades.

Commercial insurance encompasses coverage for businesses of varying sizes, protecting against risks including property damage and liability claims. 

The sector has seen increased competition as insurtech firms—companies applying technology to insurance services—seek to modernise traditional processes.

Hayes describes the acquisition as the result of careful selection. “Along with my fellow investors, we've waited patiently to find the perfect fit to enhance our business model.” 

Hayes says. “Adam and his team bring experience and energy perfectly aligned to our future plans for growth and innovation.”

Growth Strategy Targets Multiple Deals

GOAT Insurance is pursuing additional acquisition opportunities as part of its expansion programme across the UK market. The company has identified what it describes as a pipeline of strategic acquisitions to expand its footprint.

Book of business acquisitions—where one insurer purchases another's client relationships and associated policies—represent a common growth strategy in the insurance sector. Such deals provide immediate access to established customer bases whilst offering continuity for existing clients.

Chhabu built IGG Insurance through what the company describes as a client-focused ethos, developing the business before deciding to step away from operations. Watts brings experience in client service to the combined organisation.

The commercial insurance market has experienced consolidation as established players seek scale advantages and newer entrants attempt to build market presence. 

GOAT's approach combines acquisition activity with technology development to serve businesses navigating insurance requirements.

GOAT's technology investment includes what the company describes as market-leading systems designed for commercial insurance delivery. 

The company states these systems will work alongside AI-driven tools to provide faster and more intuitive coverage decisions.

Hayes acknowledges Chhabu's contribution to IGG Insurance's development. 

“We'd like to thank Naeem for the tremendous job he's done building IGG Insurance into a respected and successful business,” Hayes says. “His vision and hard work laid a strong foundation, and we're honoured to carry it forward.”

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