The Ardonagh Group has announced that it plans to acquire Thames Underwriting, a specialist MGA that provides insurance solutions to brokers across the Construction, Leisure and Commercial sectors.
Following the takeover, Thames will join Ardonagh’s suite of MGA brands and will operate within Geo Specialty Group Holdings Limited.
Thames is headquartered in Leigh-on-Sea in the UK and has a 30-strong team of experts.
The firm also maintains partnerships with more than 600 independent brokers and operates a number of delegated underwriting authorities on behalf of Lloyd’s and insurers such as Allianz, AXA XL, Liberty, and QBE.
“As a strong brand with brokers across the UK known for their professional underwriting approach and hands-on service proposition, Thames is a great addition to Ardonagh’s suite of MGA brands,” said Derek Coles, Ardonagh’s CEO of MGA Binders and Facilities.
“With a proven track record and access to specialist schemes, facilities and bespoke products, Thames’ team of highly experienced underwriters further bolsters the Group’s specialist MGA with Geo Underwriting increasing capability, particularly in construction, and greatly expanding on the breadth and depth of products we have to offer the UK’s regional market, with a specific emphasis on independent brokers. We look forward to working together in their next growth chapter.”
Thames’ Managing Director Keith Syrett also commented: “Having set up the business with Philip Thomas in 2010, we’re delighted to now be joining The Ardonagh Group and join a host of industry leading brands.”
“We believe this is a fantastic opportunity for the business, propelling us towards our goal of being a market leading MGA in our sector,” Syrett continued.
“With new products planned and an increase in regional presence, we’re committed as ever to UK brokers and look forward to further developing these relationships.”
