TORONTO: IC Group, a global leader in digital promotions, has acquired remaining 13% ownership stake in Insured Creativity Inc. (ICI) effective on June 21, 2024.
The acquisition was completed through a payment of cash and the issuance of shares of IC Group to Bostraze Trading Inc. Following this acquisition, ICI is now a wholly owned subsidiary of IC Group.
ICI, operating as a Lloyd’s Coverholder for over three decades, has established itself as a key player in the insurance industry, focusing on innovative risk solutions tailored to the unique needs of its clients.
ICI’s comprehensive product suite includes prize insurance, liability protection, and coverage against cancellation risks for live events, effectively enhancing consumer engagement and mitigating financial exposure.
“Insured Creativity has demonstrated remarkable growth, particularly in post-pandemic recovery,” stated David Sasaki, President of ICI.
“With the global live events industry projected to grow significantly over the next decade, our expanded partnership with IC Group positions us to deliver specialized expertise and support to our partners and clients worldwide.”
Mike Pakeman, Bostraze owner, expressed his enthusiasm: “I’m excited to see the growth and innovation in our business. This acquisition reflects our continuous efforts to push boundaries and enhance our offerings, especially in the events space.”
The acquisition aligns with IC Group Inc.’s strategic vision to leverage ICI’s industry expertise and operational excellence, further enhancing its ability to navigate complexities in the marketplace. This transaction underscores IC Group Inc.’s commitment to fostering insurance innovation within the live events industry and delivering unparalleled value to its stakeholders.
IC Group is a leader in digital promotions, dedicated to providing innovative marketing solutions that drive consumer engagement and enhance brand loyalty. With a strong focus on technological advancement and customer satisfaction, IC Group Inc. continues to redefine standards in the digital promotions industry.
ICI is a specialized Managing General Agent (MGA) offering tailored underwriting solutions in the Sports, Entertainment, and Promotions sectors. Operating as a Lloyd’s Coverholder, ICI is committed to delivering comprehensive risk management strategies and exceptional service to its global clientele.
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