Brown and Brown acquires Edinburgh-based MGA specialising in construction

Brown and Brown Europe has acquired MGA and Lloyd’s coverholder Premier Commercial (PremCo).

Based in Edinburgh, PremCo specialises in niche construction sector property and complex liability programmes. It was established in 1995 by Crawford and Joyce Boyd.

The acquistion has received regulatory approval and the consideration is undisclosed.

As part of the deal, the business will become part of Brown and Brown Europe’s MGA division. The broker said that the deal “underscores [its] continuing interest in acquiring niche MGAs”.

Clive Nathan, chief executive of underwriting at Brown and Brown Europe, said: “PremCo meets all the key criteria we look for in an MGA. A strong cultural fit, niche products, excellent underwriting performance and attractive organic growth prospects.

“The business will be complementary to Camberford Underwriting, which is also in the MGA division, adding construction specialisation and strengthening our offering to brokers and their customers.”

’Perfect fit’

Crawford Boyd will continue to lead the business as part of the deal, with him reporting to Barry Driscoll, chief trading officer of Brown and Brown Europe’s MGA division.

“This transaction is a perfect fit for us as we have known and worked with Boyd for many years,” Nathan said.

“We are excited to work with Boyd and all our new teammates.”

Boyd added: “Joining Brown and Brown marks the next step in our journey and joining this global organisation will provide the long-term support and resources needed to take our business to the next level.

“Having worked with the Brown and Brown team for many years, this was the perfect opportunity and fit and I look forward to working closely with Driscoll, Nathan and the wider team.”