Brown and Brown Europe set to snap up MGA in first acquisition since rebranding

Brown and Brown Europe is set to acquire managing general agent (MGA) Occam, a statement released today (20 September 2023) said.

Occam is a London-based Lloyd’s coverholder that is made up of two specialist MGAs – Occam Underwriting focuses on the international space sector, while Beech Underwriting specialises in UK terrorism and property.

Brown and Brown Europe, which rebranded from Global Risk Partners last week (11 September 2023), said it had agreed to acquire 100% of the share capital of Occam.

It will become part of Brown and Brown Europe’s MGA division, which is led by Clive Nathan and currently includes Camberford Underwriting and Plum Underwriting.

”Occam sits exactly in our appetite for specialist underwriters with deep experience of the niches they cover,” Nathan said.

Moves

Occam has been majority-owned by Hudson Structured Capital Management Ltd – carrying out its (re)insurance business as HSCM Bermuda – since 2021.

Moving to Brown and Brown Europe will see Phil Duffin continue to lead Occam’s space division, with him being supported by space underwriter Jack Kenneally.

Meanwhile, Andrew Woodhams and Matt Gates will continue in their leadership roles within Beech Underwriting.

“Phil, Jack, Andrew and Matt are highly respected in their twin fields of space and terrorism and I know that we will be able to build their market presence and expand their capabilities as part of Brown and Brown,” Nathan added.

Michael Millette, managing partner of HSCM Bermuda, said: “We are very proud of the specialist MGA business Occam has created.

“We believe that Brown and Brown is the best possible home for Occam to enable the business to make the most of its considerable experience in the next phase of its story.

“Brown and Brown will be excellent custodians for the business, the team, our customers and its people. I wish it well for the future.”