H.W. Kaufman Group, the Farmington Hills, Mich.-based wholesale broker and managing general agent, announced the acquisition of Barbican Protect Ltd., as part of its continued expansion into the UK market, subject to regulatory approval.
Purchased from Barbican Insurance Group for an undisclosed amount, Barbican Protect is a London-headquartered MGA that specializes in commercial property, casualty, financial lines and marine, focusing on U.K. regional retail brokers.
Barbican Protect will rebrand as Burns & Wilcox and will join H.W. Kaufman Group London. This is the fourth acquisition by Kaufman in the UK in the past seven years, as the company follows a strategic growth plan to serve a growing base of international clients.
“Barbican Protect’s leadership in risk solutions adds a powerful resource to the Burns & Wilcox underwriting platform as we expand in the U.K. and build the capacity to continue to grow globally,” commented Alan Jay Kaufman, chairman, president and CEO, H.W. Kaufman Group, parent company of Burns & Wilcox, the wholesale insurance broker and underwriting manager.
“Barbican Protect has created a unique and dynamic position supporting insurance brokers throughout the U.K. with a solid, successful operating model. We welcome the firm to the Kaufman family,” he added.
Stuart Kilpatrick, managing director, Barbican Protect Ltd., has led the MGA for 10 years after serving as divisional manager for UK Property & Casualty and client relationships manager at ACE Europe. In his new role, Kilpatrick will lead Burns & Wilcox as managing director and will report to James Stevenson, managing director, H.W. Kaufman Group London.
“The strength of our longstanding relationships and technical underwriting expertise has allowed Barbican Protect to successfully grow and develop over a number of years,” said Kilpatrick. “Kaufman’s investment further enables us to continue that momentum under the Burns & Wilcox brand, and become an even more valuable partner to our insurance brokers, their clients, and insurance partners.”
“This strategic acquisition will continue to provide choice and expertise for our insurance brokers at a time when consolidation and withdrawal of markets is becoming commonplace,” said James Stevenson, managing director, H.W. Kaufman Group London. “Barbican Protect’s strength of expertise fits well with H.W. Kaufman Group’s companies, as they also focus on their niche sectors and markets.”
Barbican Protect will operate in the H.W. Kaufman Group London office and in Manchester, England, as Burns & Wilcox. The transaction is expected to close in the next 60 days, pending regulatory approvals.
Source: H.W. Kaufman Group
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