Global insurance broker Acrisure has announced the acquisition of Modus Underwriting Ltd (Modus), an award-winning, technology driven, Managing General Agent (MGA).
Modus is an insurance provider that unites traditional insurance disciplines with cutting-edge technology to offer fully automated, e-traded insurance products for its partner brokers. Modus will be part of Acrisure UK MGA Limited (AUK).
“Modus’ tech and data-led approach is uniquely aligned with Acrisure. I am pleased to welcome their team to what we’re building for our clients and partners in the marketplace,” said Mark McIlquham, President of Acrisure UK.
The MGA is now a subsidiary and Appointed Representative (AR) of AUK, which was relaunched this year following the hiring of Nigel Palmer who brought with him three decades of industry experience.
According to the announcement, Modus will keep operating under its existing brand and management team, led by Simon Read and Scott Banks, who believe this move will allow the company to see great growth.
Banks commented: “Acrisure is the perfect home for Modus. Acrisure’s team, reputation and tech capabilities will help us take our business to the next level.”
Read added: “We are thrilled to have joined Acrisure and we look forward to showing our partner brokers and their clients the power of this partnership.”
