NSM Insurance Group to acquire Kingsbridge Group
NSM Insurance Group a leading managing general underwriting agency (“MGU”) and program administrator for specialty insurance programs, has entered into a definitive agreement to acquire Kingsbridge Group Limited (“Kingsbridge”). Based in the United Kingdom, Kingsbridge is the leading provider of commercial lines insurance and consulting services to the UK’s high growth contingent workforce.
“We are excited to expand further in the UK with the acquisition of Kingsbridge, which fits nicely into NSM’s portfolio of niche-focused insurance businesses. We look forward to working with James and his team and to providing them with support and resources to continue to grow the business.” – Geof McKernan, Chief Executive Officer of NSM.
“We look forward to joining Geof and the NSM family. Our cultures align seamlessly. Together, we will offer a compelling value proposition to our clients and carrier partners while delivering comprehensive insurance coverage for contractors, freelancers and the recruitment industry.” – James Twining, Group Chief Executive Officer of Kingsbridge.
The current Kingsbridge management team will continue to manage the day-to-day operations of the business post-closing. NSM will support Kingsbridge’s growth strategy, and the combination will help accelerate growth across both companies.
The transaction is expected to close by the end of the second quarter of 2020. The closing is subject to regulatory approvals and other customary closing conditions. The closing is not subject to a financing condition.