KGM Underwriting Companies, a UK specialist motor insurer and subsidiary of Howden Group, introduced the acquisition of Eridge Underwriting Company, a managing common agent (MGA) that focuses on specialist and higher-rated motor insurance coverage.
This acquisition, anticipated to finish in Might, will strengthen KGM’s dealer product suite and preserve its deal with being the versatile and agile various to the composite insurers, mentioned Romford, England-based KGM in an announcement.
The mixed enterprise, backed by long-term and dedicated Zurich capability, will underwrite £175 million in gross written premium in 2022.
The acquisition of Eridge Underwriting Company follows the switch in Sept. 1, 2021 of Aurum Underwriting’s specialist and excessive internet price motor enterprise from DUAL Company Dangers to KGM. KGM’s providing now covers all non-public and business motor lessons, offering area of interest and specialst motor options, mentioned KGM. (Aurum and DUAL are each subsidiaries of Howden Broking Group).
“I’ve recognized the KGM enterprise and its administrators for over 20 years, and selected to hitch with KGM as a result of I’ve persistently been impressed by its people-first values, entrepreneurial spirit and underwriting experience,” commented John Hamilton, CEO of Tunbridge Wells, England-based Eridge.
“Regardless of superb presents from different corporations, our shared values of remarkable service for brokers and their purchasers made KGM the apparent residence for our enterprise. I look ahead to persevering with our journey with the KGM crew,” Hamilton added.
“Within the specialist and area of interest motor segments we serve, KGM presents a extremely skilled and well-regarded crew, backed with A-rated options and repair to our dealer companions. Our private service, underwriting agility and claims experience is why they select us,” mentioned Matt Puttick, CEO of KGM. “John and his crew at Eridge share these attributes, have a fantastic status out there and collectively our mixed product vary makes for a extremely compelling dealer proposition.”
Howden Group Holdings Ltd. final yr accomplished the acquisition of A-Plan Group, which KGM is a part of.
Based in 1994, Howden Group Holdings includes Howden Broking and underwriting enterprise DUAL. Howden Group Holdings’ companies function in 45 international locations throughout Europe, Africa, Asia, the Center East, Latin America, the U.S., Australia and New Zealand and make use of over 10,500 individuals.
Supply: KGM Underwriting Companies
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