Brown and Brown acquires Kent-based commercial MGA

Brown and Brown Europe has agreed to acquire Pardus Underwriting, an MGA specialising in property owners and commercial combined products.

Headquartered in Cranbrook, Kent, and with offices in London, Pardus Underwriting was established by chief executive Keith Thompson and chief underwriting officer Darren Stockman in 2013.

The duo and all their team will continue post-acquisition and the business will continue to operate from its existing locations.

Thompson said: “Joining Brown and Brown Europe marks an exciting new chapter for Pardus.

“We’re proud of what we’ve built over the past decade and this move gives us the platform to accelerate our growth while continuing to deliver specialist products and exceptional service to our brokers and customers.”

‘Ongoing appetite’

The deal has received regulatory approval and the consideration is undisclosed.

Brown and Brown Europe said the deal demonstrated its ”ongoing appetite for acquiring niche and specialist MGAs”.

Clive Nathan, chief executive of underwriting at Brown and Brown Europe, said: “We’re delighted to welcome Pardus into the underwriting division. Their commercial combined specialisation enhances our product suite and brings fresh capability that we know our broker partners want.

“With strong organic growth potential and a highly experienced team, Pardus is an excellent fit for our strategy.”