’This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers,’ says chief executive
Tokio Marine HCC International (TMHCCI) has agreed to acquire commercial motor managing general agent Direct Commercial Limited (DCL).
The transaction includes DCL and its sister company, Direct Commercial Premium Finance.
Based in Chelmsford, Essex, DCL specialises in commercial motor insurance and writes more than £200m in gross written premium (GWP). The business insures around one in nine commercial trucks operating on UK roads and distributes products through a network of UK brokers.
DCL provides cover across fleet, multivehicle and individual commercial motor risks and has built a strong position in the fleet insurance sector during more than two decades of trading.
TMHCCI said DCL will continue to operate as a standalone business following completion of the deal, retaining its brand, management team and broker relationships.
Phil Cunningham, chief executive at DCL, said: “DCL has built a highly successful business founded on specialist commercial motor expertise, disciplined underwriting and enduring broker relationships.
”TMHCCI is the ideal partner to support the next stage of our development and this transaction represents an exciting opportunity for our people, brokers and clients.
”By combining DCL’s proven capabilities with TMHCCI’s scale, resources and long-term commitment to specialty insurance, we will be well positioned to accelerate our growth while maintaining the expertise, accessibility and service that have underpinned our success.”
New business line
The acquisition represents a new line of business for TMHCCI as it continues to diversify its specialty insurance portfolio.
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The insurer said DCL’s underwriting expertise, claims capabilities and established broker network made it a strong strategic fit.
Thibaud Hervy, chief executive at TMHCCI, said: “DCL brings us a leading specialist capability in UK fleet insurance, supported by strong underwriting discipline, claims capability and broker relationships.
”This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers in a technically demanding and fast-growing market. We share a strong client-focused, expertise-led culture. We are delighted to welcome Cunningham and his team to the TMHCCI family.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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