Howden’s Motor Specialist MGA KGM Underwriting Acquires UK Motor MGA Eridge

KGM Underwriting Services, a UK specialist motor insurer and subsidiary of Howden Group, announced the acquisition of Eridge Underwriting Agency, a managing general agent (MGA) that focuses on specialist and higher-rated motor insurance.

This acquisition, expected to complete in May, will strengthen KGM’s broker product suite and maintain its focus on being the flexible and agile alternative to the composite insurers, said Romford, England-based KGM in a statement.

The combined business, backed by long-term and committed Zurich capacity, will underwrite £175 million in gross written premium in 2022.

The acquisition of Eridge Underwriting Agency follows the transfer in Sept. 1, 2021 of Aurum Underwriting’s specialist and high net worth motor business from DUAL Corporate Risks to KGM. KGM’s offering now covers all private and commercial motor classes, providing niche and specialst motor solutions, said KGM. (Aurum and DUAL are both subsidiaries of Howden Broking Group).

“I have known the KGM business and its directors for over 20 years, and chose to join with KGM because I have consistently been impressed by its people-first values, entrepreneurial spirit and underwriting expertise,” commented John Hamilton, CEO of Tunbridge Wells, England-based Eridge.

“Despite very good offers from other companies, our shared values of exceptional service for brokers and their clients made KGM the obvious home for our business. I look forward to continuing our journey with the KGM team,” Hamilton added.

“In the specialist and niche motor segments we serve, KGM offers a highly experienced and well-regarded team, backed with A-rated solutions and service to our broker partners. Our personal service, underwriting agility and claims expertise is why they choose us,” said Matt Puttick, CEO of KGM. “John and his team at Eridge share these attributes, have a great reputation in the market and together our combined product range makes for a highly compelling broker proposition.”

Howden Group Holdings Ltd. last year completed the acquisition of A-Plan Group, which KGM is part of.

Founded in 1994, Howden Group Holdings comprises Howden Broking and underwriting business DUAL. Howden Group Holdings’ businesses operate in 45 countries across Europe, Africa, Asia, the Middle East, Latin America, the U.S., Australia and New Zealand and employ over 10,500 people.

Source: KGM Underwriting Services

Topics Mergers & Acquisitions Underwriting Insurance Wholesale