The specialist lines focused MGA, Occam Underwriting, has today announced its acquisition of Beech Underwriting Agencies Ltd (Beech Underwriting). The deal, which is subject to approval from the Financial Conduct Authority (FCA), is part of Occam’s strategic expansion plans and will see the Beech Underwriting team continue to be led by MD Geoff Stilwell (pictured above), Andrew Woodhams and Matt Gates from their Maidstone offices.
As an approved Lloyd’s coverholder, Beech Underwriting has been a renowned entity in the placement of terrorism and other specialist related insurance for over two decades. Commenting on the deal, Occam CEO Mark Fisher (pictured below) said he is “very pleased” to welcome Beech Underwriting to the Occam group as it continues its planned expansion.
“Beech have built a very successful MGA with agents throughout the UK and I look forward to developing and supporting the business moving forward,” he said. “There is a good cultural fit between Beech and Occam and we will work closely together. By partnering with Beech’s well-established panel of underwriting partners we will continue to provide all our agents with the right product for the right client”.
Meanwhile, Stilwell noted that the whole Beech team is very excited about moving forward with Occam and that the deal will enable Beech to continue to grow and to establish itself as the market leader in terrorism insurance. On a personal level, he said, he is very proud of all the team has accomplished in the last 20-plus years. Stilwell added that joining the Occam group will enable Beech to continue to provide the products and service its agents have enjoyed since it started in 2001.
The acquisition is a continuation of Occam’s strategy to diversify into additional lines of business with the continued support of Hudson Structured Capital Management Ltd., doing its re/insurance business as HSCM Bermuda (“HSCM”). This strategy has been underpinned by a series of key strategic hires – including Oliver Litterick as director and head of low carbon energy and Steve Hart as director and head of its newly-formed trade credit, political risk, surety and terrorism reinsurance business.
“We are delighted to see Occam expanding its reach in the Lloyd’s market with the acquisition of Beech,” added Michael Millette, managing partner at HSCM Bermuda. We have been supporters of the team at Occam for more than 4 years now and are thrilled with their successful efforts to expand. We look forward to continuing to grow our relationship with Mark and the Occam team.”