16 October 2015 Insurance

Thomas Miller acquires controlling stake in Osprey

Insurance services company Thomas Miller has bought a controlling shareholding in marine and aerospace insurance provider Osprey.

Established as an underwriting agency in 1991, Osprey offers a range of marine insurance products and has recently diversified into aerospace.

Osprey is known for being one of the first dedicated agencies in the London market to deliver fixed premium protection and indemnity (P&I) and related insurance solutions to niche markets around the world.

Hugo Williams, chairman of Thomas Miller, said: “In purchasing a majority shareholding in Osprey we are bringing into Thomas Miller a business that currently operates in areas adjacent to our current core businesses and as such Osprey is a logical extension of our business lines.

“It is also a useful acquisition to expand our managing agency capabilities. We are developing plans for further growth in this sector and we will make an announcement on these plans in due course.”

Guy Pierpoint, chief executive officer of Osprey, added: “Thomas Miller is an excellent fit for Osprey. Not only do its existing business and values fit well with ours at Osprey, but the infrastructure and support now available to us will enable us to grow and diversify the current Osprey business lines and also diversify into new product areas.”

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