The Ardonagh Group, a UK-based insurance broker, has acquired Thames Underwriting, an Essex-based specialist managing general agent (MGA) which offers insurance solutions to brokers in the construction, leisure, and commercial sectors.

Financial terms of the deal were not disclosed.

Headquartered in Leigh-on-Sea, Thames Underwriting is said to operate various delegated underwriting authorities on the behalf of Lloyd’s and A rated insurance firms such as Allianz, QBE, Catlin, AXA XL, RSA, Liberty, and others. The specialist MGA is said to have a team of 30 experts.

Keith Syrett – Thames Underwriting Managing Director said: “Having set up the business with Philip Thomas in 2010, we’re delighted to now be joining The Ardonagh Group and join a host of industry leading brands.

“We believe this is a fantastic opportunity for the business, propelling us towards our goal of being a market leading MGA in our sector.

“With new products planned and an increase in regional presence, we’re committed as ever to UK brokers and look forward to further developing these relationships.”

Thames Underwriting will join Ardonagh Group’s suite of MGA brands and will be operating under Geo Specialty Group Holdings.

Derek Coles – Ardonagh Group MGA Binders and Facilities CEO said: “As a strong brand with brokers across the UK known for their professional underwriting approach and hands-on service proposition, Thames is a great addition to Ardonagh’s suite of MGA brands.

“With a proven track record and access to specialist schemes, facilities and bespoke products, Thames’ team of highly experienced underwriters further bolsters the Group’s specialist MGA with Geo Underwriting increasing capability, particularly in construction, and greatly expanding on the breadth and depth of products we have to offer the UK’s regional market, with a specific emphasis on independent brokers.”

  Ardonagh Group, Derek Coles, Essex, Insurance acquisition news, Insurance industry news, Keith Syrett, managing general agent, Thames Underwriting, United Kingdom