Through the acquisition, Accelerant will acquire Kinnell’s subsidiary Guarantee Protection Insurance Limited (GPI). It will also broaden the group’s portfolio with the addition of Kinnell’s other subsidiary companies, including two insurance intermediaries, a trade association, and a repair company.
In addition, Kinnell Holdings will also adopt Accelerant InSightFull technology, proprietary underwriting and analysis platform, which is being rolled out across the company’s US, UK and European operations.
Jeff Radke, CEO of Accelerant, said: “We are pleased to have completed the acquisition of Kinnell Holdings, which marks an important step forward in our efforts to enhance our network and offerings.
“The acquisition of Kinnell enables Accelerant to have additional capacity to serve our Members platforming the UK. We look forward to working closely with Andy and the rest of the Kinnell team as we continue to grow our offerings and coverage in the UK.”
Andy Page, CEO of Kinnell Holdings, added: “We are pleased to have found a partner that shares our commitment to providing the highest possible quality service, and we look forward to the ample growth opportunities ahead for our company as part of the Accelerant portfolio.”