Tokio Marine HCC International (TMHCCI), a member of Tokio Marine HCC (TMHCC), has entered into a definitive agreement to acquire Direct Commercial Limited (DCL), a specialist UK commercial motor managing general agent (MGA), and its sister company, Direct Commercial Premium Finance Limited.
DCL is headquartered in Chelmsford, Essex, and is one of the UK market’s “fastest-growing” motor fleet underwriters, providing commercial fleet cover for operators across the UK. The acquisition opens TMHCCI to a new line of business, commercial motor.
Currently, DCL writes over GBP 200 million in gross written premium, and provides commercial motor products across fleet, multi-vehicle and individual risks through a dedicated UK broker network.
Post acquisition, DCL will continue to operate as a standalone business, preserving its established brand, team, and broker relationships, while benefiting from the scale and financial strength of the wider TMHCC group.
As a global specialty insurer with a track record of building capability across complex and technical lines, the addition of UK commercial motor underlines TMHCC’s commitment to growth and diversification across specialty lines.
Thibaud Hervy, Chief Executive Officer (CEO), TMHCCI, commented, “DCL brings us a leading specialist capability in UK fleet insurance, supported by strong underwriting discipline, claims capability and broker relationships.
“This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers in a technically demanding and fast-growing market. We share a strong client-focused, expertise-led culture. We are delighted to welcome Phil and his team to the TMHCCI family.”
Phil Cunningham, CEO, DCL, added, “DCL has built a highly successful business founded on specialist commercial motor expertise, disciplined underwriting and enduring broker relationships. TMHCCI is the ideal partner to support the next stage of our development, and this transaction represents an exciting opportunity for our people, brokers and clients.
“By combining DCL’s proven capabilities with TMHCCI’s scale, resources and long-term commitment to specialty insurance, we will be well positioned to accelerate our growth while maintaining the expertise, accessibility and service that have underpinned our success.”
