Markel has announced a 49% investment in Certa, a prominent tax managing general agent (MGA).
This significant move, the specialty firm noted, is tapped to fast-track Certa's product development initiatives and geographic expansion plans, while affording Markel increased access to the substantial long-term growth potential within the specialised and maturing sector.
Certa was founded in 2019 by industry stalwarts Ed Beckwith, Tom Cartwright, Rachel Hine, and Adam Singer, and established with the mission of creating a dedicated tax underwriting MGA. The company had the backing of Markel as one of its original capacity providers.
Certa is recognised as an exclusive underwriting agency entirely focused on tax and contingent risk insurance. The company boasts support from 12 capacity providers and has a presence in London, Germany, and Spain.
This strategic investment will see Markel closely collaborating with Certa's management team to enhance the MGA's business strategy. It will also complement Markel's in-house warranty and indemnity (W&I) portfolio, which delivers M&A insurance coverage for small and medium-sized enterprise (SME) transactions involving buyers domiciled in the UK and the European Economic Area (EEA).
“Markel has provided capacity to Certa from day one, and in a short period of time Certa has become a market-leader in its specialist sector. We believe the business has plenty of headroom for growth in the coming years as the tax sector continues to mature. We look forward to continuing to work with Certa’s excellent team of tax experts as we play a key role in accelerating growth across the MGA’s operations in 2024 and beyond,” Markel International divisional PFR managing director David Sawyer said.
Elsewhere for the specialty insurer, Markel also recently announced the appointment of Brook Styles as its new head of cargo.
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