Arden UW Ltd, which is part of the Willis & Company Group, is taking on a new identity after acquiring fellow managing general agent Generation Underwriting Management Ltd.
Without disclosing financial terms of the transaction, Arden UW said it will not only retain the snapped up MGA’s five-member roster in Newcastle-upon-Tyne but also trade under the Generation Underwriting name.
“I’m very excited to begin working with the Generation Underwriting team,” commented Arden UW managing director Greg Wilde (pictured), who oversaw the acquisition and remains MD of the combined and now rebranded business.
“The team at Generation is extremely talented and hardworking. Their experience, skills, and relationships have allowed them to offer a much sought-after service to their brokers and with the support of the wider group we want to expand our products and offering so we can mutually grow with our partners.”
Meanwhile the former boss at Generation Underwriting, David Bell, is now UK regional director at the merged MGA.
“The SME mid-market space continues to be a challenge for brokers who are witnessing an extensive period of insurer consolidation and the loss of traditional underwriting skills to a computer and the removal of local autonomy and decision-making,” noted Bell.
“We remain committed to our core values and will continue to deliver flexible underwriting skills and competitive solutions to our customers. Under this new investment, we will roll out these services to other areas of the UK, and we’re looking forward to this imminent expansion with our existing insurer panel and new capacity partners.”
For Willis & Company Group managing director Richard Willis, the “strategic decision” to swoop for Generation Underwriting means an extension of services and further growth to the overall group.
