The global insurance network strives to expand its presence in the UK with its fourth acquisition in seven years
H.W Kaufman Group, a global network of insurance companies, is to acquire speciallist commercial property, casualty, financial lines and marine MGA Barbican Protect in order to further its expansion and growth into the UK insurance market.
Barbican Protect, formerly part of Barbican Insurance Group, will be Kaufman’s fourth UK acquisition in the past seven years. Once the purchase has received regulatory approval, which is expected within the next 60 days, Barbican Protect will be rebranded to Burns and Wilcox and join H.W Kaufman Group London.
Barbican Protect currently focuses on regional retail brokers in the UK across its specialty lines.
Alan Jay Kaufman, chairman, president and chief executive at H.W. Kaufman Group, parent company of Burns and Wilcox, said: “Barbican Protect’s leadership in risk solutions adds a powerful resource to the Burns and Wilcox underwriting platform as we expand in the UK and build the capacity to continue to grow globally.
”Barbican Protect has created a unique and dynamic position supporting insurance brokers throughout the UK with a solid, successful operating model. We welcome the firm to the Kaufman family.”
Stuart Kilpatrick has acted as managing director at Barbican Protect for the past 10 years, following his tenure at ACE Europe, as divisional manager for UK property and casualty and client relationships manager.
The acquisition will see Kilpatrick take on a new position as Burns and Wilcox’s managing director, reporting in to James Stevenson, managing director at H.W Kaufman Group London.
As Burns and Wilcox, the rebranded business will operate from H.W Kaufman Group London’s office in Manchester.
Kilpatrick said: ”The strength of our longstanding relationships and technical underwriting expertise has allowed Barbican Protect to successfully grow and develop over a number of years. Kaufman’s investment further enables us to continue that momentum under the Burns and Wilcox brand, and become an even more valuable partner to our insurance brokers, their clients, and insurance partners.”
James Stevenson added: “This strategic acquisition will continue to provide choice and expertise for our insurance brokers at a time when consolidation and withdrawal of markets is becoming commonplace. Barbican Protect’s strength of expertise fits well with H.W Kaufman Group’s companies, as they also focus on their niche sectors and markets.”
Burns and Wilcox is a wholesale insurance broker and underwriting manager specialising in commericial and professional liability, property, environmental, marine and personal insurance.
H.W Kaufman Group operates across 60 offices in the US, Canada and the UK, employiing more than 2,000 staff. Other businesses within its portfolio include Atain Insurance Companies, Chesterfield Insurance Brokers, Lochain Patrick, Cranbrook Underwriting and Node International.