Specialist managing general agency Occam Underwriting has acquired terrorism specialist Beech Underwriting Agencies, a Lloyd’s coverholder and MGA.
Occam, which specialises in space and energy risk, said the acquisition is in line with its growth plans and diversification strategy.
Geoff Stillwell, managing director of Beech Underwriting, will continue to head the Beech team.
Stillwell said the move to Occam “will enable Beech to continue to grow and firmly establish itself as “the” market leader in terrorism insurance”. The team, which also includes Andrew Woodhams and Matt Gates, will continue to work from its Maidstone offices.
Occam’s CEO Mark Fisher said: “Beech has built a very successful MGA with agents throughout the UK… By partnering with Beech’s well-established panel of underwriting partners we will continue to provide all our agents with the right product for the right client.”
Earlier this year and with backing from Hudson Structured Capital Management, Occam hired Steven Hart to head its new trade credit, political risk, surety and terrorism reinsurance business and Oliver Litterick as head of low carbon energy as the MGA looks to enter the renewable energy sector.