Broker to create new motorsport arm as it announces acquisition

Specialist broker Kingfisher Insurance has acquired MIS Motorsport’s UK and Ireland commercial business.

MIS Motorsport provides on-track insurance coverage for the UK, Europe and Asia.

Through the acquisition of its commercial book, Kingfisher will create a new division that will focus on products for professional and amateur motorsports teams and businesses.

The entity will be known as MIS Commercial and be operated by the existing MIS team in Leeds.

The rest of the MIS Motorsport business will remain under its current ownership.

James Stuart, managing director at Kingfisher, said: “We are excited to welcome the MIS Commercial clients and team to the Kingfisher family.

“MIS has built a strong commercial book and this acquisition accelerates our strategy of growing our specialisms, reaffirming our commitment to the motorsports industry.”

Expansion

The deal follows Kingfisher’s acquisition of Reis Motorsports Insurance last year.

The broker said it would continue to expand its market presence through organic growth and strategic acquisitions.

Jacquie Boast, chief executive at Kingfisher’s parent company NSM UK, said: “The acquisition of MIS Commercial marks another significant milestone in Kingfisher’s strategic expansion within the motorsport insurance market, building upon last year’s acquisition of Reis.

“This solidifies our position as a leading provider of specialist insurance solutions for the motorsport industry.

“By integrating the MIS Commercial team and business into Kingfisher, we aim to accelerate growth and profitability in this sector while delivering an even higher level of service to our commercial motorsport clients.”