Markel, the insurance operation within Markel Group Inc., announced a 49% strategic investment in Certa Insurance Partners, the London-based specialist tax MGA.
This move will accelerate the UK-based tax specialist’s product development and geographical expansion plans, while giving Markel further access to the significant long-term growth opportunity in the niche, maturing sector, Markel said.
Certa was formed in 2019 by four market professionals – Ed Beckwith, Tom Cartwright, Rachel Hine, and Adam Singer – to establish a dedicated tax underwriting MGA, with the support of Markel as one of its original capacity providers.
Since then, Certa has gone from strength-to-strength, creating the only underwriting agency focused exclusively on tax and contingent risk insurance, backed by 12 capacity providers. Headquartered in London with offices in Germany and Spain, Certa is a Lloyd’s coverholder that provides bespoke tax insurance solutions around the globe.
As part of this investment, Markel will work closely with Certa’s management team to support the MGA’s business strategy. The partnership will also complement Markel’s in-house warranty and indemnity (W&I) portfolio, which offers M&A insurance cover for SME transactions to buyers domiciled in the UK and European Economic Area (EEA).
“Markel has provided capacity to Certa from day one, and in a short period of time Certa has become a market-leader in its specialist sector. We believe the business has plenty of headroom for growth in the coming years as the tax sector continues to mature,” commented David Sawyer, divisional managing director of Professional and Financial Risk (PFR) and Cyber at Markel International.
“We are extremely excited to have secured a 49% investment from an organization with Markel’s specialty lines pedigree. Markel’s extensive global footprint, coupled with its high-level underwriting and operational expertise, will hugely aid our potential in developing more tax insurance solutions and other products, as well as providing crucial capacity support for our next expansion phase,” Beckwith said.
Source: Markel
Topics Insurance Wholesale
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