Brown & Brown (Europe), a unit of US insurer Brown & Brown, has reached an settlement to purchase UK-based Occam Underwriting.

Brown & Brown didn’t disclose the monetary worth of the deal, which has obtained clearance from the regulator.

Based mostly in London, Occam is a managing basic agent (MGA) and a Lloyd’s Coverholder.

Occam’s enterprise includes two specialist MGAs that embody worldwide space-focused Occam Underwriting and Beech Underwriting, which is targeted on the UK terrorism and property sector.

Since 2021, the acquired firm has been majority-owned by Hudson Structured Capital Administration (HSCM).

Based on the settlement, Occam will be a part of the MGA enterprise of Brown & Brown Europe, which additionally consists of Camberford Underwriting and Plum Underwriting.

Occam Underwriting area and aviation director Phil Duffin will proceed to steer the area division, supported by area underwriter Jack Kenneally.

Senior terrorism underwriter Andrew Woodhams, who’s supported by senior property underwriter Matt Gates, may even proceed of their roles inside Beech Underwriting.

Brown Europe MGA division head Clive Nathan stated: “Occam sits precisely in our urge for food for specialist underwriters with deep expertise of the niches they cowl.

“This transaction follows our deal to amass life sciences specialist Nucleus Underwriting earlier this yr, and Occam meets the identical standards; not solely targeted on area of interest and specialist but in addition with an entrepreneurial administration staff and an urge for food to develop.”

HSCM Bermuda managing companion Michael Millette stated: “We consider that Brown & Brown is the absolute best house for Occam to allow the enterprise to benefit from its appreciable expertise within the subsequent section of its story. Brown & Brown can be glorious custodians for the enterprise, the staff, our clients and its folks.”

In July, the wholesale insurance coverage enterprise of Brown & Brown’s wholesale insurance coverage enterprise Bridge Specialty Group reached an settlement to buy New England Extra Alternate (NEEE) property.