Purchase of International Marine Insurance Managers is part of ongoing worldwide expansion
R J Kiln & Co Limited (Kiln) today announced the acquisition of a South African underwriting agency, adding to its international network of marine cargo specialist businesses.
Kiln has acquired Cape Town based International Marine Insurance Managers (SA) (PTY) Ltd (IMIM), which has been a 25% associated company of Kiln since 2004. The company, which specialises in marine cargo and commercial fishing vessel insurance, will be integrated into Kiln South Africa (PTY) Ltd.
This acquisition, following on from Kiln’s recent purchase of UK and Singapore based International Marine (Underwriting Agency) Limited (IMUA), is part of Kiln’s ongoing strategy to increase local access around the world to the Lloyd’s market.
R J Kiln & Co Limited chief executive officer, Charles Franks, said: “I am delighted to welcome International Marine to the Kiln Group. IMIM is a well managed, profitable business and as such will be a great asset as part of our ongoing strategy to provide underwriting capability closer to business producers in places where access to Lloyd’s may be limited. By taking full ownership of this strong business, we are increasing our reach in the local South African market, and will be able to offer a wider range of products to customers in the region.”
