Beazley acquires MGA to expand specialty lines in Canada
Specialist insurer Beazley has expanded its presence in Canada with the acquisition of specialist managing general agent (MGA) Creechurch Underwriters.
Creechurch provides insurance programmes to small and medium enterprises (SMEs), offering standalone products for cyber, management liability, commercial crime, employment practices liability, professional liability, miscellaneous errors & omissions (E&O), medical malpractice, general liability, property, and legal expenses.
In 2016, the company generated CAD$36 million ($27.7 million) of premiums.
Following the acquisition, Creechurch’s workforce will remain based at their existing Toronto, Montreal and Vancouver offices and continue to be led by its president Phil Baker, who will report to Beazley's head of international financial lines Gerard Bloom.
Bloom said: "We are delighted to welcome this highly regarded team to Beazley. We look forward to working together to build Beazley’s presence in Canada by enhancing existing covers and providing deeper support to middle market and large risk accounts along with launching new products."
Adrian Cox, Beazley's head of specialty lines added: "Canada has a developed insurance market well suited to the specialist liability products that we offer. Last year we launched our market leading data breach product, Beazley Breach Response, in Canada and we see significant growth opportunities across our product range.”
Baker said: "We have had a successful trading partnership with Beazley ever since we began in 1996. We are very familiar with Beazley's people, products and culture - it's a great fit."
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