Occam Underwriting, the specialist lines focused Managing General Agency (MGA), has announced the acquisition of terrorism insurance MGA Beech Underwriting Agencies Ltd.
The acquisition forms part of Occam’s strategy to diversify into additional lines of business with the continued support of Hudson Structured Capital Management Ltd., which does its re/insurance business as HSCM Bermuda (HSCM).
Founded in 2001 by Managing Director Geoff Stilwell, Beech Underwriting is an MGA focused on the placement of terrorism and other specialist related insurance.
“I am very pleased to welcome Beech Underwriting to the Occam group as we continue with our planned expansion,” said Occam Chief Executive Officer Mark Fisher.
“Beech have built a very successful MGA with agents throughout the UK and I look forward to developing and supporting the business moving forward,” Fisher continued. “There is a good cultural fit between Beech and Occam and we will work closely together. By partnering with Beech’s well-established panel of underwriting partners we will continue to provide all our agents with the right product for the right client”.
Stilwell also commented: “The whole team here at Beech is really excited about going forward with Occam. This will enable Beech to continue to grow and firmly establish itself as ‘the’ market leader in Terrorism Insurance. On a personal level I am extremely proud of what everyone at Beech has contributed and achieved over the past 20 plus years. Joining the Occam group will enable Beech to continue to provide the products and service all our agents have enjoyed since we started way back in 2001”.
Following the acquisition, the Beech team will continue to be led by Stilwell, Andrew Woodhams and Matt Gates from their Maidstone offices.
“We are delighted to see Occam expanding its reach in the Lloyd’s market with the acquisition of Beech,” added Michael Millette, Managing Partner at HSCM Bermuda. We have been supporters of the team at Occam for more than 4 years now and are thrilled with their successful efforts to expand. We look forward to continuing to grow our relationship with Mark and the Occam team.”
