Grupo ilao acquires 21 brokers

Bogotá-based insurance brokerage Grupo ilao, operating under the brand Chariot & Castle Seguros, has acquired 21 insurance brokerages across seven cities in Colombia. The acquisitions were completed over the past two years.

The company has raised more than $30 million in debt and equity from a consortium of investors led by Jean-Pierre “JP” Conte’s Lupine Crest Capital and Dennis Chookaszian. Both investors have previously backed Acrisure, Confie Seguros, Alera Group, and AMBA. Chookaszian, former CEO of CNA Insurance, was also involved in the growth of USI and Alliant.

Grupo ilao currently serves over 20,000 clients with $150 million in annual premiums and employs over 500 people. The company plans to expand internationally next year.