Geo Underwriting, the managing normal company and subsidiary of Ardonagh Advisory, introduced it’ll purchase Navigators & Normal (N&G) from Zurich UK.
Monetary particulars of the deal weren’t disclosed.
Based in 1921 by Captain William Coombs, a service provider navy officer and First World Battle veteran, N&G is a market chief in marine Insurance coverage, offering cowl for a variety of boats and vessels in addition to industrial marine trades together with, marinas, boat builders and rent fleets. N&G has a broad distribution serving customers and intermediaries alike.
Upon completion, which is anticipated throughout the second half of 2024, N&G’s specialist staff based mostly in Brighton will be a part of Geo Underwriting.
The established e-book of enterprise will proceed to commerce as Navigators & Normal, working in tandem with Geo Marine.
Navigators & Normal will complement Geo’s marine specialism and broaden its product and proposition to new and present prospects, commented Jaime Swindle, Geo Underwriting CEO, in a press release.
“We rigorously chosen Geo to accumulate N&G as they share the identical values as Zurich and are an ideal associate to construct a profitable future, unlocking the total potential of the model,” mentioned 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 Well being & Safety, Thompson & Bryan and Usay Evaluate manufacturers.
An MGA and Lloyd’s coverholder, Geo Underwriting gives specialist insurance coverage options for rising and present dangers that cater to non-standard and area of interest sectors, throughout a number of enterprise traces for each the UK and worldwide markets.
Supply: Geo
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