Vantage, the UK arm of NSM Insurance Group, has acquired Redditch, West Midlands based Fresh Insurance Services Group for an undisclosed sum in a bid to grow its business in the UK insurance market.
Fresh Insurance operates as an insurance broker and specialises in non-standard personal lines products, motor trade, van, and travel insurance.
The latest deal represents the second acquisition executed by Vantage since it was acquired by NSM Insurance Group in December 2016.
Commenting on the acquisition, NSM Insurance Group CEO Geof McKernan said, “We are excited to continue our growth and expansion in the UK with Fresh Insurance.
“They have a strong track record of providing excellent service and expertise to the niche-specific industries they serve, which makes them a perfect fit for our portfolio of dynamic, specialised businesses. We welcome the Fresh team to our UK operation.”
Vantage CEO John Collyear said: “This acquisition is another important step in our ambition to become one of the UK’s leading specialist insurance agencies.
“A key aspect of this growth strategy is to expand our specialist insurance operations, and we were particularly attracted to Fresh because of the nature of their business and their distribution model.
“They, like us, are highly niche, and their expertise in non-standard personal lines products, such as young drivers and hard to insure household, will complement our growing portfolio of specialist insurance business.”
NSM Insurance Group offers insurance programmes which include CAT driven property; social services and behavioural health; collector cars; workers’ compensation; professional liability for architects and engineers; staffing; sports and fitness, among others.