IAG expands into SME territory in UK
IAG UK has made a strategic move into the SME sector with the acquisition of west London-based corporate commercial broker Barnett and Barnett.
The broker specialises in transport, technology, construction and farming and controls a reported £25 million ($54 million) in gross written premium. IAG’s UK underwriting business Equity Red Star has developed a close relationship with Barnett and Barnett over recent years by underwriting its personal lines and fleet accounts.
It is understood IAG UK will retain the Barnett and Barnett brand alongside its existing UK operations.
IAG’s Equity Insurance Group has also purchased Devon-based rural specialist Holsworthy Insurance Services, taking its total number of brokers to 84.
The broker specialises in transport, technology, construction and farming and controls a reported £25 million ($54 million) in gross written premium. IAG’s UK underwriting business Equity Red Star has developed a close relationship with Barnett and Barnett over recent years by underwriting its personal lines and fleet accounts.
It is understood IAG UK will retain the Barnett and Barnett brand alongside its existing UK operations.
IAG’s Equity Insurance Group has also purchased Devon-based rural specialist Holsworthy Insurance Services, taking its total number of brokers to 84.