August Equity invests in Starpeak

UK private equity firm August Equity has invested in technology-enabled MGA Starpeak Insurance Solutions to support a management buyout and the company’s next phase of growth.

Founded in 1991, Starpeak operates several niche insurance brands, including Protectivity and SportsCover Direct, serving more than 175,000 UK customers annually. The company said it has maintained annual growth of more than 25%.

Founder Julian Hucks will step back into an ambassadorial role. Andy Brownsell and Andy Pilgrim, who have spent more than two decades combined at Starpeak, will become CEO and CTO, respectively. Former BGL Group CEO Peter Thompson will join as chair.

The investment will support further development of Starpeak’s proprietary iTraps platform, which enables rapid product launches, largely automated underwriting and direct-to-consumer distribution. Starpeak also plans to explore acquisitions alongside its organic growth initiatives.

Starpeak renewed its binder with AXA XL’s UK and Lloyd’s business for a tenth year in 2025.