Broker acquires PI specialist to expand commercial offering

Paragon International Insurance Brokers has acquired professional indemnity (PI) specialist Cox Mahon.

Founded in 1996 and based in Shrewsbury and London, Cox Mahon provides PI products and services for solicitors and property professionals, as well as specialist insurance for private clients.

The acquisition will see Paragon grow its commercial product offering and, in turn, expand in the PI area.

James Kalbassi, co-chief executive at Paragon, said: “Paragon’s combination with Cox Mahon will greatly add to the expertise and resources within our UK business and will enhance our position in the UK professions PI sector.”

Moves

Cox Mahon founders Richard Amphlett and Andrew Kenyon will continue to lead the business, while Kalbassi and chief operating officer Bradleigh Barker will join the Cox Mahon board.

Amphlett said that a ”key element of our long-term strategic plan was to find a partner to help propel the development of Cox Mahon”.

“Partnering with Paragon to enable this is exactly what we had been looking for, as their approach to client service is the mirror image of ours,” he said.

“Early on in our discussions, it became evident that we shared a common value set, which are centred around delivering the best client outcomes.

“Andrew, Nina Petty and I are very excited to be working with Paragon to continue to build Cox Mahon in the coming years and welcome James and Brad to our board.”