Kiln is set to continue its overseas growth in 2007 following the acquisition of Belgium marine underwriter, Belmarine Insurers.
The Lloyd's insurer has acquired the country's second largest marine underwriting operation for around £6.3m.
The deal is part of Kiln's strategic plan to enhance its distribution network by extending its underwriting reach to foreign markets. This follows the recent establishment of a regional office in Hong Kong and a joint venture in Singapore.
Roger Bickmore, business development manager at Kiln, told Insurance Times: "Up to now, and also in 2007, it has been about broadening access to other markets and not extending access in markets that we are already in.
"There is no coincidence that we have acquired an insurer in Europe where we haven't a significant presence and we want to develop that, so there will be more of that type of process in 2007."
Bickmore admitted that Kiln, along with other Lloyd's insurers, were "underweight" in continental Europe. As a result future investment and acquisitions targets could come from that area if it "made strategic sense".
"There are no specific targets," he added. "But we will continue to do research into those markets [where we do not have a significant presence] and at the other end of the spectrum other opportunities may come to us."
