NSM wants to grow its presence internationally
US broker NSM Insurance Group has bought Essex-based firm Vantage Holdings.
Vantage owns outdoor leisure and liability insurance broker Vantage Insurance Services and classic car specialist Classic Insurance Services.
NSM chief executive Geof McKernan explained that the acquisition was part of the broker’s plan to grow its presence internationally.
The broker controls over $500m in premiums annually.
McKernan said: “A key aspect of our growth plans for this year was to find an opportunity to expand our business at the international level.
”We were attracted to Vantage because they have been aggressive and efficient in building their business over the past decade and have a reputation as a leading program administrator.
“Like us, Vantage is laser-focused on products for niche industries where they can achieve profitable, sustainable and renewable growth.”