Resolution/Ashbrooke complete acquisition of Europe arm of Sportscover Australia

Resolution Underwriting Holdings and Ashbrooke Group have completed their acquisition of Sportscover Europe (SEL) and Active Underwriting Specialists (Active), the European operations of Sportscover Australia Group for an undisclosed sum.

The acquisitions have received FCA regulatory approval. The purchase of two highly regarded specialist MGAs will add significant capability and expertise to both the Resolution and Ashbrooke groups.

The companies, and the SEL and Active brands, will continue to operate independently recognising their strong presence and name recognition in the UK and European markets in which they operate.

Resolution has facilities in place for the businesses to trade compliantly in the post-Brexit environment.

SEL, led by Martin Crannis, has remained fully operational throughout the significant disruption both the professional and amateur sports and leisure markets have faced due to lockdown restrictions.

Chris Harman, chairman of Resolution, said: “We have long thought that Sportscover and Active had excellent leadership in Martin Crannis and are delighted to have agreed their purchase. They are exactly the sort of specialist MGAs with high quality and profitable business, and a strong distribution base, that Resolution seeks.”

Steve Gowland, CEO of Ashbrooke Group, added: “Ashbrooke has been an investor in Resolution for many years and when the opportunity arose to support the acquisition of Sportscover Europe we did not hesitate. Martin Crannis is a leader in the European sports and leisure insurance market, and we are excited by the significant growth opportunities available to Sportscover Europe that will only be enhanced with the substantial backing of both Ashbrooke and Resolution.”

Founder and Director of Sportscover Australia, Peter Nash commented: “The sale of the European operations will facilitate full licensing in Europe and give our multinational clients even greater stability. Resolution has a strong plan to take the brand forward in Europe which allows Sportscover Australia the opportunity to focus on growth in the Asia-Pacific and North America.”

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