Niche insurance provider Kingfisher Insurance Services has acquired the commercial division of MIS Motorsport in the UK and Ireland.
Under the deal, a new entity called MIS Commercial will be established, dedicated to providing commercial insurance services to both professional and amateur motorsport teams and related businesses.
The acquisition does not impact MIS Motorsport, which will remain under its current ownership and continue focusing on its expertise in motorsport on-track insurance, a key area of growth for the company.
The existing team at MIS Commercial, based in Leeds, will stay on board, ensuring uninterrupted service for clients as the transition takes place.
Part of Kingfisher’s broader strategy of growth through both acquisitions and organic development, the deal follows the firm’s purchase of Reis Motorsports Insurance last year, further boosting Kingfisher’s dedication to the motorsports sector.
“We are excited to welcome the MIS Commercial clients and team to the Kingfisher family,” said Kingfisher managing director James Stuart (pictured).
“MIS has built a strong commercial book, and this acquisition accelerates our strategy of growing our specialisms, reaffirming our commitment to the motorsports industry.”
Jacquie Boast, chief executive of Kingfisher parent NSM UK, highlighted the significance of the transaction, noting: “The acquisition of MIS Commercial marks another significant milestone in Kingfisher’s strategic expansion within the motorsport insurance market, building upon last year’s acquisition of Reis.
“This solidifies our position as a leading provider of specialist insurance solutions for the motorsport industry. By integrating the MIS Commercial team and business into Kingfisher, we aim to accelerate growth and profitability in this sector while delivering an even higher level of service to our commercial motorsport clients.”
Financial terms of the deal were not disclosed.
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