iprism, the London-based construction, property, commercial and high-net-worth MGA, announced the acquisition of property-focused MGA, SK Underwriting Ltd. for an undisclosed amount.
Kent, England-based SK Underwriting was formed in 1999 and offers a range of commercial SME products, principally focused on property. It is backed by “A” rated, UK-domiciled capacity and all existing staff will remain with the business. SK founder and Managing Director Colin Johns will remain with the business as a consultant for 12 months.
The acquisition is the second by iprism; in September last year it acquired Metier Underwriting. CEO Ian Lloyd signaled his desire to grow the business organically and through acquisition following iprism’s management buyout in 2021.
“Colin Johns and his team have built a strong business which complements iprism’s market appetite and expertise. We see mutual benefit in this acquisition; SK’s property underwriting experience will bolster our own capabilities, whilst providing them access to new broker teams and business opportunities,” commented CEO Lloyd.
About iprism
iprism is a management owned, wholesale MGA that uses in-house technology to deliver a range of insurance products to UK brokers. iprism operates an innovative proprietary insurance brokerage platform, with support from a team of expert underwriters, to provide access to a range of specialist insurance products for commercial and private clients, all backed by a panel of UK-based rated insurers.
Source: iprism
Was this article valuable?
Here are more articles you may enjoy.
Supreme Court Overturns Chevron Rule in Blow to Regulators 
A $29 Billion Weed Market Fights to Diversify Amid Legal Hurdles 
Ford Recalls 668,000 2014 F-150 Pickup Trucks Over Transmission Issue 
Farmers Adjusters Cry Foul Over Workloads, Claims Handling in Letter to Regulators 
