Ardonagh’s Geo Underwriting to Buy Navigators & General From Zurich UK

Geo Underwriting, the managing general agency and subsidiary of Ardonagh Advisory, announced it will acquire Navigators & General (N&G) from Zurich UK.

Financial details of the deal were not disclosed.

Founded in 1921 by Captain William Coombs, a merchant navy officer and First World War veteran, N&G is a market leader in marine Insurance, providing cover for a wide range of boats and vessels as well as commercial marine trades including, marinas, boat builders and hire fleets. N&G has a broad distribution serving consumers and intermediaries alike.

Upon completion, which is expected during the second half of 2024, N&G’s specialist team based in Brighton will join Geo Underwriting.

The established book of business will continue to trade as Navigators & General, working in tandem with Geo Marine.

Navigators & General will complement Geo’s marine specialism and expand its product and proposition to new and existing customers, commented Jaime Swindle, Geo Underwriting CEO, in a statement.

“We carefully selected Geo to acquire N&G as they share the same values as Zurich and are a perfect partner to build a successful future, unlocking the full potential of the brand,” said David Nichols, head of Retail Zurich UK.

Ardonagh Advisory Broking Holdings is The Ardonagh Group’s SME broking platform comprised of Bravo Networks, Footman James, Hera Indemnity, Geo Underwriting, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan and Usay Compare brands.

An MGA and Lloyd’s coverholder, Geo Underwriting provides specialist insurance solutions for emerging and existing risks that cater to non-standard and niche sectors, across multiple business lines for both the UK and international markets.

Source: Geo

Topics Mergers & Acquisitions Underwriting