Deals: Brown & Brown is Buying Pardus Underwriting Ltd

The acquisition trail continues for Brown & Brown, here is the latest;

 Brown & Brown (Europe) Ltd, part of Brown & Brown, Inc. (“Brown & Brown”), have agreed to acquire Pardus Underwriting Limited, an MGA specialising in Property Owners and Commercial Combined products.

Headquartered in Cranbrook, Kent, and with offices in London, Pardus Underwriting was established by Chief Executive Officer Keith Thompson and Chief Underwriting Officer Darren Stockman in 2013. Keith, Darren and all their team will continue post-acquisition, and the business will continue to operate from its existing locations.

The acquisition underscores Brown & Brown’s ongoing appetite for acquiring niche and specialist MGAs.

Clive Nathan, Chief Executive Officer, Underwriting of Brown & Brown (Europe), said: “We’re delighted to welcome Pardus into the Underwriting division. Their commercial combined specialisation enhances our product suite and brings fresh capability that we know our broker partners want.

“With strong organic growth potential and a highly experienced team, Pardus is an excellent fit for our strategy.”

Keith Thompson, Chief Executive Officer of Pardus Underwriting, said: “Joining Brown & Brown (Europe) marks an exciting new chapter for Pardus.

“We’re proud of what we’ve built over the past decade, and this move gives us the platform to accelerate our growth while continuing to deliver specialist products and exceptional service to our brokers and customers.”

The deal has received regulatory approval, and the consideration is undisclosed.