Occam Underwriting, the specialist lines managing general agency (MGA), announced it has completed the acquisition of Beech Underwriting Agencies Ltd. having received the required approval from the Financial Conduct Authority (FCA).
Beech Underwriting is an approved Lloyd’s coverholder that has been a market leader in the placement of terrorism and other specialist-related insurance for over 20 years.
Financial details of the deal, which was first announced in October 2021, were not disclosed.
“The team at Beech have built a very successful MGA, with agents throughout the UK, and we can now look ahead to developing and supporting them moving forward. They have a strong relationship with an established panel of Underwriters that the management team at Occam are also looking forward to working with,” commented Occam Chief Executive Officer Mark Fisher.
The acquisition is the continuation of Occam’s strategy to diversify into additional specialized lines of business and is supported by majority investor Hudson Structured Capital Management Ltd., doing its re/insurance business as HSCM Bermuda (HSCM), an asset manager specialising in the re/insurance and transportation sectors.
Source: Occam Underwriting
Topics Catastrophe Natural Disasters Underwriting Insurance Wholesale
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