Gallagher today announces that it has acquired 100% of the RGA Group, which comprises three companies — Rentguard Limited, Home & Travel Limited and RGA Underwriting Limited — and is a UK insurance intermediary specialising in landlords insurance and the lettings industry as well as wider property markets.
Based in Brentford, the RGA Group was formed in 2001 with the launch of Rentguard, a wholesale property and letting insurance specialist founded by Group CEO James Castell to provide other general insurance intermediaries, landlord associations and lettings agents with an alternative insurance provider targeted specifically at the private landlord sector.
The group has since built a multi-channel specialist capability supported by a 110-strong team. In aggregate, RGA Group manages the insurance requirements of over 140,000 policyholders across its main trading brands of Rentguard, Discount Insurance, City Landlord and RGA Underwriting — the latter operating as a wholesale broker facilitating direct access to required Lloyd’s markets.
It will become part of Gallagher’s UK Retail division, reporting into Gareth Birch, Managing Director of Gallagher’s SME & Personal Lines Division, which provides tailor-made solutions for small businesses and private clients.
Commenting on the deal, Michael Rea, CEO of UK Retail for Gallagher, said: “The complementary product range of RGA Group and its well-known trading brands will further strengthen Gallagher’s established specialism in niche property owners’ insurance, while extending our distribution capabilities to reach even more customers.
“Its impressive track record of organic growth and profitability, product innovation and the development of diverse routes to market all combine to make this another excellent investment as we continue to expand our UK business via strategic acquisitions. We look forward to welcoming the team into Gallagher and building the business further.”
James Castell said: “Over the last 18 years we have built an impressive business in the landlords and lettings sector. With the support of a talented team, we’ve expanded from our Rentguard roots as a wholesaler targeting the private landlord sector, into the wider property market offering a host of associated products and services.
“Now it’s time for the next stage in our journey and Gallagher was identified early on as the right partner for two key reasons: the sheer breadth of its product footprint, enabling us to offer a much wider range of risk solutions, as well as being the best long-term home for our clients, people and business.”