Calliden buys remaining half of IUA
Underwriting agency IUA – formerly known as Interruption Underwriting Agencies – is now a fully fledged part of the Calliden Group after the family of founder the late Harry Dickinson Snr sold its remaining 50% stake for $1.5 million.
Calliden bought its initial 50% in the business interruption insurance specialists in October 2007 for an undisclosed price. It now underwrites IUA’s products.
Harry Dickinson Snr, who died in November last year at the age of 90, devised the simplified business interruption product that IUA still sells. He set up the company in 1987, at the age of 70.
Harry Dickinson Jr and his mother Margaret Dickinson, who stayed on after the initial stake was sold to Calliden, will now leave the company.
The company will now be run by former Calliden Group Executive Strategic Services Stephen Fay.
Calliden bought its initial 50% in the business interruption insurance specialists in October 2007 for an undisclosed price. It now underwrites IUA’s products.
Harry Dickinson Snr, who died in November last year at the age of 90, devised the simplified business interruption product that IUA still sells. He set up the company in 1987, at the age of 70.
Harry Dickinson Jr and his mother Margaret Dickinson, who stayed on after the initial stake was sold to Calliden, will now leave the company.
The company will now be run by former Calliden Group Executive Strategic Services Stephen Fay.