Occam Underwriting buys terrorism-focused MGA

Occam Underwriting, the specialist lines focused managing general agency (MGA) has completed its acquisition of Beech Underwriting Agencies, having received the required approval from the Financial Conduct Authority.

Beech Underwriting is an approved Lloyd’s cover-holder that says Occam has been a market leader in the placement of terrorism and other specialist related insurance for over 20 years.

Occam is diversifying into additional specialised lines of business and is supported by majority investor Hudson Structured Capital Management, doing its re/insurance business as HSCM Bermuda, an asset manager specialising in the re/insurance and transportation sectors.

Occam CEO Mark Fisher said: “The team at Beech have built a very successful MGA, with agents throughout the UK, and we can now look ahead to developing and supporting them moving forward.”

Michael Millette, managing partner at HSCM Bermuda, added: “We are excited to be adding the Beech team and business to Occam.  They have built a business on thought leadership, in the same spirit as ours, and we believe the two together are positioned for substantial growth.”