London-based broker buys Dallas-based MGA, subsidiaryPosted On: Dec. 12, 2022 10:47 AM CST
Kastor Holdings Ltd., a London-based insurance brokerage holding company, said Monday it has acquired Dallas-based managing general agent BritAmerica Management Group Inc. and its subsidiary BMG Insurance Brokers Ltd.
Terms of the transaction were not disclosed.
Founded in 2002, BritAmerica is a specialist equine, livestock and pet MGA that is licensed to write business in all 50 states and trades internationally through its Lloyd’s of London broker BMG.
BritAmerica and BMG will remain under the leadership of Simon Hall, its current CEO and president. Jeff Nelson will continue as vice president and COO of BritAmerica and Andrew Wood as a director of BMG, Kastor said in a statement.
Kastor owns Lloyd’s brokerages Ramon International Insurance Brokers Ltd. and Sanctuary Insurance Brokers Ltd., as well as Ramon Korea Ltd. It bought a majority stake in Seoul-based CKI Korea in September.
Nick Andrews, group CEO of Kastor; Clive Edwards, COO of Ramon International; and Paul Wells, director of Kastor, will join the BritAmerica and BMG boards as directors.
Dominika Wojtyczka, divisional director of operations at BMG, and Beverley Curtis, deputy chief operating officer of Ramon International, will also join the BMG board, subject to regulatory approval.