Munich Re completes sale of marine specialist founded in 1826

Digital insurtech MGA Ripe has completed its purchase GJW Direct from Munich Re Specialty.

GJW Direct was founded in 1826 and offers non-commercial marine insurance.

Ripe said the acquisition, which was first announced in October 2024, would increase its boat insurance market share.

Alan Thomas, chief executive at Ripe, said: “The acquisition of GJW Direct represents a transformative moment for Ripe’s growth strategy. By integrating this prestigious brand with over 190 years of heritage into our portfolio, we’re not just expanding our market presence—we’re combining historical expertise with modern technology.

“Our proprietary platform will enhance the customer experience for GJW Direct policyholders while preserving the brand’s trusted reputation. We are thrilled to welcome GJW Direct policyholders to Ripe.”

Strategy

Munich Re Specialty’s decision to sell GJW Direct came following a review of its strategy for 2025 and beyond.

Danielle Champion, UK managing director of global markets at Munich Re Specialty, said: “GJW Direct has been a valued part of Munich Re Specialty for over two decades. This is a great next step for the brand and we wish Ripe every success as they move forward in driving the future growth of GJW Direct.

”I’d like to thank the customers of GJW Direct for their trust and continuous support during Munich Re Specialty’s ownership of this prestigious brand.

“Munich Re Specialty’s decision to sell GJW Direct was driven by a reflection on our strategic goals and plans for the next stage of our own growth.

“Our specialty strategy in the UK regional market will continue to advance in the coming years and we are excited to progress our offering of specialty solutions for today’s dynamic challenges.”