JLT acquires £19m GWP underwriter

Jardine Lloyd Thompson Group has acquired Wolverhampton based Ingham Underwriting.

The acquisition of Ingham expands the UK operations of JLT's managing general underwriter, Thistle Underwriters.

Ingham is a UK underwriting agency focused on the SME market with offices in Wolverhampton, Belfast and Ripon.

David Ingham, who will continue as managing director of the business, will also become a part of the Thistle senior management team.

In the year to 28th February 2009, Ingham generated £19m of gross written premium through a wide distribution network in the UK, producing revenues to Ingham of £3.7 million.

James Gerry, chief executive, Thistle, said: "As we near the completion of our platform development, it is clear that the acquisition of Ingham would offer a number of key benefits and opportunities for Thistle, including a proven track record, an excellent reputation within the UK and an exceptional distribution network. The adoption of the Thistle operating model also provides the potential to meaningfully increase the revenues we can earn from this business. "

He continued: "This is an exciting development, increasing our market share and channels of distribution. When we overlay this with Thistle's trading platform efficiencies and the introduction of a broader range of insurance products, the opportunities for us are considerable. There is an excellent cultural and business fit, with the team from Ingham bringing important expertise and experience as well".

David Ingham added: "We are very excited about joining Thistle at this early stage in the company's development because we can help to make Thistle a real success. The access to increased resources will enhance our ability to offer our broker partners the products and services that have always been our hallmark. I see this as a great opportunity for the whole team".