Acrisure buys tech and data-driven MGA
Global re/insurance broker Acrisure has acquired a technology-driven managing general agent (MGA) that offers fully automated, e-traded insurance products to brokers.
MGA Modus Underwriting has been acquired and will become part of Acrisure UK MGA (AUK), which offers a full suite of commercial and personal lines products.
Modus is now a subsidiary and Appointed Representative (AR) of AUK, which was relaunched this year following the hiring of Nigel Palmer who brought with him 30 years of industry experience. Modus will operate under its existing brand and management team, led by Simon Read and Scott Banks.
Mark McIlquham, president of Acrisure UK, said: “Modus’ tech and data-led approach is uniquely aligned with Acrisure. I am pleased to welcome their team to what we’re building for our clients and partners in the marketplace.
“Our partnership with Modus, with their specialism in property, complements our current AUK capabilities which have been historically more liability orientated - enabling us to offer a full suite of products to our broker partners.”
Banks said: “Acrisure is the perfect home for Modus. Acrisure’s team, reputation and tech capabilities will help us take our business to the next level.”
Read added: “We are thrilled to have joined Acrisure and we look forward to showing our partner brokers and their clients the power of this partnership.”
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