High net worth specialist Oak Underwriting has been sold to fellow underwriting agency Somerville, which has secured a 30% increase in capacity for 2004.
Beazley, which underwrites Oak's high net worth policy, said that it was delighted with the deal. "It ensures our long-term commitment to this successful busines," said Andrew Beazley.
Somerville founder Andrew Cross becomes chairman of Oak Underwriting. He said: "When this opportunity came along, it was the culmination of a long ambition to grow Somerville's underwriting interests in the high net worth sector."
Tony Lumsden Cook continues as Oak's managing director and has a three-year contract.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
