Geo Underwriting, a chartered managing general agent, has completed the acquisition of the marine, leisure and marine trade book of business from KGM Underwriting.
KGM is a UK-based wholesale intermediary that offers A-rated technical advice and products.
The specialist team provides insurance solutions to brokers in the marine and leisure sectors and will become part of the Geo specialty division.
Nick Sharp, CCO at Geo specialty, said: “We are delighted to welcome the marine, leisure and marine trade team into the Geo specialty group of businesses. They are a team of experts in their field and such an addition will only help us provide a more extended offering to our brokers and to strengthen our position in the market as a leading MGA.
“Tony Harris and his team are bringing over 40 years of expertise in marine and leisure insurance and their deep understanding of these sectors will give brokers the reassurance of Geo’s performant products.”
Harris, head of marine and leisure, added that he is looking forward to continuing to serve KGM’s “valued broker partners, whilst growing and expanding the business within the Geo specialty group of businesses”.
While the deal was first announced on 28 September it was not finalised until the first of this month.