Lloyd’s insurer makes another purchase.
Amlin has acquired a 19.9% stake in TL Dallas, its second broker investment this summer.
The Lloyd’s insurer recently took a stake of the same size in broker Miles Smith and, as reported in Insurance Times, said it would look for further acquisitions.
Charles Philipps, chief executive of Amlin, said: “Amlin’s recent acquisition of minority stakes in independent UK brokers Miles Smith and TL Dallas, and of the renewal rights to HCC’s commercial motor fleet business, underline our commitment to selectively growing our UK commercial business.
“We see this as a logical development of our existing long-term relationships and are likely to further broaden our UK distribution through partnerships with high quality brokers.”
TL Dallas, established in 1919, has a GWP in excess of £60m. The firm’s specialities include motor fleet, credit insurance, professional indemnity, financial services and risk management consultancy.
The firm operates as a professional partnership of shareholding directors and provides a full range of insurance services to industrial and commercial companies, family firms, professional partnerships and private clients.
TL Dallas chairman Colin Dallas said: “We have worked with Amlin for many years and greatly value its underwriting expertise. We look forward to jointly developing new business lines including SME property and are confident that this closer relationship will prove beneficial to our UK retail client base.”
TL Dallas is a member of the Unitas Alliance of independent brokers.