Alchemy Technology Services snags r10 Consulting in recent acquisition deal.

TLDR:

• Alchemy Technology Services acquired r10 Consulting to create a new brand, Alchemy London Market.
• The new firm will offer a suite of services to the insurance sector, including consulting services for reinsurers, brokers, and MGAs.

Alchemy Technology Services has recently acquired London management consultancy firm r10 Consulting to establish a new brand called Alchemy London Market. The acquisition, made for an undisclosed amount, will see r10 Consulting integrated into Alchemy. Together, the firms will be based in the Lloyd’s of London building and will focus on providing consulting services to the insurance sector, specifically targeting growth, operations, and technology for reinsurers, brokers, and managing general agents (MGAs). This move is expected to create various synergies for the business, such as an expanded service portfolio, access to broader markets, and the ability to leverage combined technology solutions.

Founded in 2018 and headquartered in Northern Ireland, Alchemy Technology Services currently employs more than 200 people. Amechi Pierce Howe, head of global speciality at Alchemy London Market, expressed excitement about the amalgamation of r10 Consulting, stating that it represents their commitment to providing innovative solutions to the London insurance market. Similarly, Alchemy London Market CEO John Harkin emphasized the significance of opening an office at Lloyd’s of London, describing it as a major milestone for the company and a reflection of their growth, hard work, and ambition to make a lasting impact on the insurance industry.