iprism completes second acquisition

Deal to bolster firm's capabilities

iprism completes second acquisition


By Roxanne Libatique

London-based specialist managing general agent (MGA) iprism Underwriting (iprism) has acquired Kent-based SK Underwriting, its second acquisition.

Established in 1999, SK Underwriting offers a wide range of commercial SME products, mainly focusing on property. It is backed by “A” rated, UK-domiciled capacity.

What will happen to SK Underwriting?

The acquisition will see SK Underwriting staff remain with the business and SK founder and managing director Colin Johns remain with the business as a consultant for 12 months.

Commenting on the deal, iprism CEO Ian Lloyd (pictured) said: “Colin Johns and his team have built a strong business which complements iprism’s market appetite and expertise. We see mutual benefit in this acquisition; SK’s property underwriting experience will bolster our own capabilities whilst providing them access to new broker teams and business opportunities.

“We’re an open and honest business partner, and the discussion with Colin and the SK team has been transparent and positive from the start. I see this as a hallmark of how we do business and a marker for future acquisitions.”

The deal with SK Underwriting is iprism’s second acquisition. In September 2022, the specialist MGA acquired Metier Underwriting.

What do you make of the acquisition spree in the UK insurance industry? Leave a comment below with your thoughts.


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