Foreword
The British Private Equity and Venture Capital Association (BVCA) is the industry body and public policy advocate for the private equity and venture capital industry. We have recently experienced significant growth in the membership and now have more than 500 members including more than 230 private equity and venture capital firms which own or invest in approximately 5,000 companies employing 2 million people across the UK.
Since 2010, BVCA Insurance Services has been harnessing the buying power of the membership, thought to be in excess of £1billion in insurance premium, to bring preferential purchasing terms to members and their investee companies.
Unlike the annual BVCA Guide to Insurance, which is a more general insurance handbook, this publication is aimed at the areas of risk and insurance relevant to the “before, during and after” period of a merger, acquisition, divestment or other corporate transaction. Contributors range from insurers and insurance brokers (a special thanks to our lead sponsor, Howden) to law firms and consultancies. Topics cover not only insurance and insurance solutions but also other areas of risk, risk management and the current investment environment. A list of contributor profiles can be found on pages 6–10.
We would also like to give specific thanks to our insurance partners who have supported us over the last two years and we are very much looking forward to developing these relationships for the benefit of all stakeholders.
A major development in 2012 has been the partnering with the Macquarie Insurance Facility, paving the way for those BVCA members with larger or more complex investee companies to access a group purchasing facility which has so far created savings of over US$85,000,000 on insurance premium. Unlike other mechanisms of this nature, there is no requirement to change broker and as such it is in line with our own broker-neutral approach. You can learn more about this ground- breaking partnership on page 20.
Leveraged (or group) buying power is not a new idea but one we feel the BVCA community fully understands and embraces, given that adding value is a core objective of the private equity sector. We are currently exploring new partnerships where that buying power will be utilised for the good of members, investee companies and the industry as a whole and hope to be bringing you new and exciting products and services as a result.
We hope you find this publication useful and of interest and, as ever, welcome any feedback that you have.
Nathan Sewell
CEO, BVCA Insurance Services
nsewell@bvca.co.uk
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