White Mountains unit acquires UK personal lines broker Fresh
US-based specialty insurance programme administrator NSM Insurance Group, a subsidiary of White Mountains, has acquired West Midlands-based insurance broker Fresh.
Fresh Insurance Services Group specializes in non-standard personal lines products, motor trade, van, and travel insurance.
NSM is acquiring Fresh through its UK arm Vantage Holdings. This is the second acquisition made by Vantage since it was acquired by NSM Insurance Group in December 2016 and forms an “integral piece of their growth strategy of expanding in the UK insurance market,” according to the company.
"We are excited to continue our growth and expansion in the UK with Fresh Insurance," said Geof McKernan, CEO of NSM Insurance Group. "They have a strong track record of providing excellent service and expertise to the niche-specific industries they serve, which makes them a perfect fit for our portfolio of dynamic, specialized businesses. We welcome the Fresh team to our UK operation."
John Collyear, CEO of Vantage, added: "This acquisition is another important step in our ambition to become one of the UK's leading specialist insurance agencies. A key aspect of this growth strategy is to expand our specialist insurance operations, and we were particularly attracted to Fresh because of the nature of their business and their distribution model. They, like us, are highly niche, and their expertise in non-standard personal lines products, such as young drivers and hard to insure household, will complement our growing portfolio of specialist insurance business."
Lisa Powis CEO of Fresh Insurance said: "This is an exciting opportunity for Fresh Insurance. We share the same customer-centric values as the Vantage Group and a common goal to be the number one niche insurance broker in the UK. Vantage Insurance is a fantastic business, and I believe it is an ideal fit for us. The last 16 years have been an incredible journey working with the brilliant team at Fresh and working with some great people across the industry."
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