Derry-based Alchemy Technology Services, a leading provider of technology and consulting services to the insurance sector, has acquired London management consultancy firm r10 Consulting for an undisclosed sum. Under the deal, r10 Consulting will be integrated into Alchemy and together will launch a new brand, Alchemy London Market which will be based in the Lloyd’s of London building from where it will be able to offer a comprehensive suite of services to the insurance sector.


Alchemy said 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 has since grown to become a key provider of technology and consulting services to the global insurance sector. Headquartered in Northern Ireland, it employs more than 200 people.

Alchemy London Market will provide consulting services that focus on growth, operations, and technology – for leading (re)insurers, syndicates, brokers, MGAs, Insurtech, and service and software providers.

Prior to the acquisition, the two companies have been working alongside each other since 2018 to bring innovative solutions to the ever-evolving landscape of the insurance industry, united by a shared ethos and people first strategy.

Alchemy London Market’s office in the Lloyd’s of London building embodies the company’s dedication to being at the forefront of the insurance sector. Lloyd’s, known for its pivotal role in the global insurance and reinsurance market, offers a unique environment that fosters innovation, collaboration, and connectivity.

Amechi Pierce Howe, Head of Global Speciality, Alchemy London Market, said: “This is a transformative time as we embrace our new identity as Alchemy London Market. 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.”

By integrating the talented teams from both organisations, Alchemy London Market said it is poised to deliver even greater insights, drive innovation, and offer a more comprehensive suite of services to the insurance sector.

John Harkin, CEO, comments on the significance of the new London office:
“Opening an office at Lloyd’s of London is a major milestone for us. It’s a testament to our growth, the hard work of our team, and our unwavering ambition to make a lasting impact on the insurance industry. Lloyd’s has long been a symbol of global excellence, and being part of this vibrant ecosystem allows us to contribute to and benefit from the dynamism and innovation that define the London Market.”

Alchemy said it is excited to embark on this new chapter, further solidifying its position as a trusted partner in the insurance industry. The company said it looks forward to leveraging the opportunities that the Lloyd’s of London location and the integration offer, driving forward with innovation, growth, and an unwavering commitment to client success.

 logo

Amechi-Peirce Howe, Head of Global Speciality, John Harkin, CEO and Jo Flint Chief Operating Officer of Alchemy London Market outside Lloyd’s of London.

Advertisement

HOLD MPU 2
HM MPU1 - 4th June
Derry’s Alchemy Acquires London Consultancy Firm

Derry-based Alchemy Technology Services, a leading provider of technology and consulting services to the insurance sector, has acquired London management consultancy firm r10 Consulting for an undisclosed sum. Under the deal, r10 Consulting will be integrated into Alchemy and together will launch a new brand,