9th Sep 2024 11:31
(Alliance News) - Alpha Growth PLC on Monday confirmed regulatory approval for its acquisition of Jeometri Insurance Managers (Guernsey) Ltd, an insurance management services provider.
The London-based financial services company has acquired just over 93% of Jeometri, for a consideration of GBP449,321.
The rest of the shares will be retained by the company's founder and current director, Darren Wadley, who is to remain in his role.
Established in 2017, Jeometri has extensive experience providing insurance management services to individuals and institutions. It will now deliver services currently provided by third parties for the Alpha International Life Assurance Co in Guernsey.
"We are very pleased to have received the Guernsey Financial Services Commission's change of control approval and to be able to expand our insurance services offering in Guernsey. This strategic acquisition represents a significant opportunity for growth, and we look forward to collaborating with Darren and his team to further grow Jeometri," said Alpha Chief Executive Officer Gobind Sahney.
"We are also pleased to share that the group's 'buy strategy' is progressing well, and I look forward to updating our shareholders on our acquisition pipeline in due course."
Shares in Alpha Growth were trading 0.5% higher at 2.06 pence each in London on Monday morning.
By Holly Beveridge, Alliance News senior reporter
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