​Norwegian-German insurance firm acquires London broker to expand globally

Norwegian-German insurance venture Marine Alliance has acquired London-based Speedwell Insurance Brokers to expand its global presence.

Speedwell has been an authorised Lloyd’s broker since 2014 and specialises in maritime products. It also offers a range of other propositions, including for property, aviation and concert cancellation. 

Marine Alliance said acquiring a majority stake in the firm would give its customers from the shipping and transport industry a broader product range, close consultation and a further expanded network.

Andrew Ford, managing director at Speedwell, said: “Joining the Marine Alliance is a great step for us to work for our clients so as to be able to maximize the advantages from having specialist marine insurance partners.

“We have a common outlook. We can consolidate and build on the successful operating companies to widen our scope and share our knowledge for the benefit of all the Marine Alliance clients.”

Marine Alliance

Marine Alliance was founded by German broker Marine Assekuranz and Norwegian business Fram Insurance Brokers two years ago.

They aim to expand Marine Alliance by adding further insurance brokers to the venture in the future.

Marine Alliance’s chief operating officer Thomas Hackmann said: “We are delighted to have gained Speedwell as an experienced partner based in London.

“It is the right partner at the right time. The Marine Alliance has developed successfully in its second year of existence and has created a close bond between customers and insurers. Strengthened by this very positive response, we are now expanding our offering together with Speedwell and adding the important London location to our portfolio.”