US-based firm enters UK with MGU acquisition

US-based specialty insurance platform Doxa has marked its first move into the UK market with the acquisition of Eaton Gate.

Serving more than 50,000 businesses and homeowners, Eaton Gate is an MGU that specialises in UK SME commercial and mid and high net worth (HNW) insurance products. 

Doxa said acquiring the firm would accelerate its expansion plans internationally.

“Eaton Gate reflects exactly what we look for at Doxa — high-quality underwriting businesses with strong leadership, deep industry expertise and teams that align with how we build for the long-term,” said Matt Sackett, chief executive at Doxa.

“This is an excellent launching point to expand our geographic reach as Eaton Gate’s distribution and product capabilities complement and align with Doxa’s strengths.

“This expansion into the UK will give us a platform for additional mergers and acquisitions focused on the region and beyond.”

Enhanced offering

Jonathan Matthews, chief executive and cofounder of Eaton Gate, will continue to lead the organisation with strategic support from the Doxa team.

“We are delighted to be joining Doxa, a Goldman Sachs Alternatives backed company,” said Matthews.

“This transaction delivers resources, financing and support as we continue to build Eaton Gate and allows us to prioritise first class broker service and profitable underwriting.

”We are very much open for business and are excited to share our enhanced offering with our trading partners, as well as with current and future colleagues.”