NSM Insurance Group Acquires Fresh Insurance
NSM Insurance Group announced today that their UK arm, Vantage Holdings, has acquired Fresh Insurance Services Group Limited. Fresh Insurance is an insurance broker based in Redditch, West Midlands that specializes in non-standard personal lines products, motor trade, van, and travel insurance. This is the second acquisition made by Vantage Holdings since it was acquired by NSM Insurance Group in December 2016 and forms an integral piece of their growth strategy of expanding in the UK insurance market.
Geof McKernan, CEO of NSM Insurance Group, said, “We are excited to continue our growth and expansion in the UK with Fresh Insurance. They have a strong track record of providing excellent service and expertise to the niche-specific industries they serve, which makes them a perfect fit for our portfolio of dynamic, specialized businesses. We welcome the Fresh team to our UK operation.”
“This acquisition is another important step in our ambition to become one of the UK’s leading specialist insurance agencies,” John Collyear, CEO of Vantage said. “A key aspect of this growth strategy is to expand our specialist insurance operations, and we were particularly attracted to Fresh because of the nature of their business and their distribution model. They, like us, are highly niche, and their expertise in non-standard personal lines products, such as young drivers and hard to insure household, will complement our growing portfolio of specialist insurance business.”
Lisa Powis CEO of Fresh Insurance said, “This is an exciting opportunity for Fresh Insurance. We share the same customer-centric values as the Vantage Group and a common goal to be the number one niche insurance broker in the UK. Vantage Insurance is a fantastic business, and I believe it is an ideal fit for us. The last 16 years have been an incredible journey working with the brilliant team at Fresh and working with some great people across the industry.”
Mike Wall, Fresh Insurance Managing Director, added, “I am thrilled to be working with John and the team at Vantage. There is great synergy between us; we both have multiple niche brands covering a range of specialist insurance products. In coming together, I truly believe we can offer both our clients and our insurer partners something unique. We look forward to working with Vantage to deliver on our plans in the years to come.”
For more than 27 years, NSM Insurance Group has been an industry leader in the development, implementation, marketing and underwriting of industry-specific insurance programs. The company’s insurance programs include social services and behavioral health; CAT driven property; collector cars; workers’ compensation; staffing; sports and fitness; breweries and wineries; professional liability for architects and engineers; and pet insurance. NSM Insurance Group is a subsidiary of White Mountains Insurance Group, Ltd. and is aggressively seeking to acquire additional program managers and niche specific insurance businesses.