Bermuda-based specialist insurer Hiscox announced it has reached an agreement with Willis to acquire its specialist UK classic car business, RH Specialist Insurance.
This acquisition complements Hiscox’s existing expertise in the motor market, having offered specialist and classic car insurance since 2008.
The business will continue to operate in the United Kingdom under the RH Specialist Insurance brand, with the same team based out of the existing Brentwood, England office. With the same proposition and appetite, capacity and servicing will continue to be provided by ERS, its long-standing partner.
“This is an exciting acquisition for us, building out a core line of business and supporting our ambition to be a top five specialist car insurer here in the UK,” said Justin Gott, head of art and private client at Hiscox UK and Ireland.
“RH Specialist Insurance is a highly respected heritage brand, and we look forward to combining our scale and marketing focus with RH Specialist Insurance’s extensive knowledge and distribution,” he said.
RH Specialist Insurance has provided specialist vintage and classic car insurance to owners and collectors for more than 35 years, Hiscox said in a statement. The business works with some of the UK’s most prestigious vehicle clubs and their members, such as the Rolls-Royce Enthusiasts’ Club and the Bentley Drivers Club.
As part of the Hiscox Group, RH Specialist Insurance clients will in future also benefit from access to other specialist insurance products available through Hiscox, such as high value home insurance and overseas property insurance.
Hiscox has three main underwriting divisions: Hiscox London Market, Hiscox Re and Hiscox Retail (which includes Hiscox UK and Europe, Hiscox Guernsey, Hiscox USA and subsidiary brand, DirectAsia).
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