Technology-driven managing general agent Modus Underwriting has become a subsidiary and appointed representative of Acrisure UK MGA Limited (AUK).
Without disclosing the deal’s financial terms, Acrisure UK president Mark McIlquham (pictured) said in an emailed release: “Modus’ tech and data-led approach is uniquely aligned with Acrisure. I am pleased to welcome their team to what we’re building for our clients and partners in the marketplace.
“Our partnership with Modus, with their specialism in property, complements our current AUK capabilities which have been historically more liability-orientated – enabling us to offer a full suite of products to our broker partners.”
It was highlighted that AUK was relaunched this year following the arrival of managing director Nigel Palmer. Modus, meanwhile, will continue to operate under the leadership of Simon Read and Scott Banks. The business will not be rebranded.
“We are thrilled to have joined Acrisure, and we look forward to showing our partner brokers and their clients the power of this partnership,” commented Read.
Banks, whose camp offers e-traded insurance products, added: “Acrisure is the perfect home for Modus. Acrisure’s team, reputation, and tech capabilities will help us take our business to the next level.”
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