Ardonagh-owned MGA to acquire Zurich UK’s marine brand

Zurich UK has announced that it is selling its Navigators and General (N&G) brand to Ardonagh-owned managing general agent (MGA) Geo Underwriting.

N&G is a marine insurance provider that offers cover for a range of boats and vessels, as well as commercial marine trades.

This includes, marinas, boat builders and hire fleets.

Upon completion of the deal, which is expected for H2 2024, N&G’s specialist team based in Brighton will join Geo.

The established book of business will continue to trade under the N&G brand.

David Nichols, head of retail at Zurich UK, said: “We carefully selected Geo to acquire N&G as they share the same values as Zurich and are a perfect partner to build a successful future, unlocking the full potential of the brand.

“Overall, they will give N&G the focus and investment it deserves, adding an even greater depth of experience and expertise to existing and future customers of the business.

“This acquisition not only strengthens Geo’s current operations, but it will also open up new opportunities for growth and innovation, as they invest in the N&G brand and its current and future employees.”

Expansion

Geo branched into the marine sector back in November 2020 with the purchase of the marine, leisure and marine trade book of business from Romford-based wholesale MGA KGM Underwriting Services.

Its latest purchase will see N&G work in tandem with Geo’s marine arm.

Jaime Swindle, Geo’s chief executive, said: “N&G is a hugely successful brand with a rich heritage.

“The business will highly complement our marine specialism and expand our product and proposition to new and existing customers.

“We’re looking forward to welcoming the expert team in N&G and together seizing the opportunities ahead of us.”