Hiscox acquires stake in specialist agency

LONDON— London-based Hiscox UK and Europe, part of Bermuda-headquartered Hiscox Ltd., has bought a 49% stake in Essex, England-based Allison and Partners Insurance Services.

The formerly privately-owned Allison and Partners specializes in working with businesses, particularly those in the areas of construction and recruitment, the company said.

The terms of the deal include an option for Hiscox to buy the remaining 51% of the company in the future.