KGM Underwriting Services signs acquisition deal with motor MGA

KGM Underwriting Services has acquired Eridge Underwriting Agency.

MGA Eridge specialises in managing products within specialist, niche or higher premium sectors of the UK motor insurance market – including private car, commercial vehicle, taxi and motor trade road risk insurance.

The deal is expected to complete in May and aims to broaden the KGM offering to its network of brokers, covering all private and commercial motor classes.

The combined business, backed by Zurich capacity for five years starting in January 2022, has stated it will underwrite £175m gross written premium (GWP) in 2022, alongside promising it will continue to innovate with broker partners in a highly sustainable way.

New business ‘home’

KGM chief executive Matt Puttick said: “In the specialist and niche motor segments we serve, KGM offers a highly experienced and well-regarded team, backed with A rated solutions and service to our broker partners.

“Our personal service, underwriting agility and claims expertise is why they choose us. John and his team at Eridge share these attributes, have a great reputation in the market and together our combined product range makes for a highly compelling broker proposition.”

Eridge chief executive John Hamilton, on the other hand, said he has known the KGM business and its directors for over 20 years, which has been a big factor in deciding to join the firm.

He continued: “I have consistently been impressed by its people-first values, entrepreneurial spirit and underwriting expertise.

“Despite very good offers from other companies, our shared values of exceptional service for brokers and their clients made KGM the obvious home for our business.

“I look forward to continuing our journey with the KGM team.”