H.W. Kaufman Group, a global network of insurance companies, has acquired Barbican Protect Limited from Barbican Insurance Group, subject to regulatory approval.
The agreement sees Barbican Protect rebrand as Burns & Wilcox and join H.W. Kaufman Group London, and is part of the company’s expansion plans into the UK marketplace.
The acquisition of Barbican Protect, which specialises in commercial property, casualty, financial lines and marine, is the fourth made by Kaufman in the UK in the past seven years.
Allan Jay Kaufman, Chairman, President and Chief Executive Officer (CEO), H.W. Kaufman Group, commented: “Barbican Protect’s leadership in risk solutions adds a powerful resource to the Burns & Wilcox underwriting platform as we expand in the UK and build the capacity to continue to grow globally.
“Barbican Protect has created a unique and dynamic position supporting insurance brokers throughout the UK with a solid, successful operating model. We welcome the firm to the Kaufman family.”
The MGA has been led for 10 years by Stuart Kilpatrick as Managing Director, Barbican Protect Limited. In his new role, Kilpatrick will lead Burns & Wilcox as Managing Director and will report to James Stevenson, Managing Director, H.W. Kaufman Group London.
Kilpatrick commented: “The strength of our longstanding relationships and technical underwriting expertise has allowed Barbican Protect to successfully grow and develop over a number of years. Kaufman’s investment further enables us to continue that momentum under the Burns & Wilcox brand, and become an even more valuable partner to our insurance brokers, their clients, and insurance partners.”
Stevenson added: “This strategic acquisition will continue to provide choice and expertise for our insurance brokers at a time when consolidation and withdrawal of markets is becoming commonplace. Barbican Protect’s strength of expertise fits well with H.W. Kaufman Group’s companies, as they also focus on their niche sectors and markets.”
Barbican Protect will operate in the H.W. Kaufman Group London office in Manchester, England, as Burns & Wilcox. The acquisition is expected to close within the next 60 days, pending regulatory approvals.