Arden UW, part of the Willis and Company Group, has announced the acquisition of Managing General Agent (MGA) Generation Underwriting Management Ltd.
The Newcastle-based Generation Underwriting was established over 10 years ago, and has predominantly traded across England’s North East, North West and the Midlands area.
Following the acquisition, the combined organisation will trade under the Generation Underwriting name and retain the existing underwriting and broker facing staff.
The company also plans to expand its reach across the UK through the deployment of local regional underwriters. The first stage of this will see former MS Amlin underwriter, Darren Glover join the team as Generation Underwriting expands into Northern Ireland.
With 200 years of underwriting experience garnered across the team, Generation’s UK regional director, David Bell, said he was looking forward to the planned growth and expansion.
Bell said: “The SME mid-market space continues to be a challenge for brokers who are witnessing an extensive period of insurer consolidation and the loss of traditional underwriting skills to a computer and the removal of local autonomy and decision making.
“We remain committed to our core values and will continue to deliver flexible underwriting skills and competitive solutions to our customers. Under this new investment, we will roll out these services to other areas of the UK and we’re looking forward to this imminent expansion with our existing insurer panel and new capacity partners.”
The purchase was overseen by Greg Wilde, managing director of Arden UW and former MS Amlin head of UK Regions, who will take on the role of MD of Generation Underwriting.
He said: “I’m very excited to begin working with the Generation Underwriting team. The team at Generation is extremely talented and hardworking.
“Their experience, skills and relationships have allowed them to offer a much sought-after service to their brokers and with the support of the wider group we want to expand our products and offering so we can mutually grow with our partners.”
Willis and Company group MD, Richard Willis, said: “As the Willis & Company Group continues to build on its portfolio into 2021 this strategic decision will see further growth to the overall Group and an extension of our services. I personally would like to welcome David [Bell] and his team.”