Provider of technology and consulting services Alchemy Technology Services has acquired London management consultancy firm r10 Consulting.
Acquired for an undisclosed amount, r10 Consulting will be integrated into Alchemy and together the firms will launch a new brand, Alchemy London Market.
The firm will be based in the Lloyd’s of London building and will offer a suite of services to the insurance sector, including consulting services, which will focus on growth, operations and technology for reinsurers, brokers and managing general agents (MGAs).
According to Alchemy, the acquisition will create a number of synergies for the business, including an expanded service portfolio, access to broader markets and the ability to leverage combined technology solutions.
Alchemy Technology Services was founded in 2018 and is headquartered in Northern Ireland. It employs more than 200 people.
Commenting on the news, Amechi Pierce Howe, head of global speciality at Alchemy London Market, says: “The amalgamation of r10 Consulting symbolises our integrated approach and commitment to providing innovative solutions to the London insurance market.
“Our presence at Lloyd’s is not just about a change of address; it’s a reflection of our ambition to be closer to the heart of the insurance industry, where we can directly contribute to and shape its future.”
Alchemy London Market CEO John Harkin adds: “Opening an office at Lloyd's of London is a major milestone for us. It is a testament to our growth, the hard work of our team, and our ambition to make a lasting impact on the insurance industry.”
