URIS Group gets 2026 off to a flying start with an acquisition, here’s the word;
URIS Group Limited (“UGL”) has acquired Lutine Assurance Services (“Lutine”) from Ardonagh Group, in a move that significantly strengthens UGL’s position in the UK protection market.
Lutine is a long-established protection specialist providing group life (death in service) solutions to SMEs and Corporates, including Group business protection such as key person, partnership and shareholder cover. It operates exclusively via intermediaries as a Lloyd’s coverholder.
Under the deal, UGL has acquired a book of approximately £5.5million GWP, with capacity provided by Beazley and AXA XL, and a team of eight specialist colleagues, all of whom will continue to operate under the Lutine brand. The acquisition is the latest step in UGL’s growth strategy following its management buy-out from The Ardonagh Group in 2024, and further diversifies its MGA portfolio.
Lutine has historically focussed on providing group life solutions for SMEs through its broker partner network. UGL plans to use its national broker relationships to expand Lutine’s reach and to position the brand as the group’s platform for all protection-related business, not solely SME focussed solutions.
Over time, UGL intends to extend the Lutine brand to cover a broader range of protection solutions, including mortgage payment protection, short-term income protection and other specialist protection, all medically underwritten and backed by high quality capacity.
Derek Coles, Chief Executive Officer of UGL, said: “Lutine is a highly respected specialist in business protection, with deep technical expertise, historic and ongoing relationships with its capacity providers, and strong broker relationships. Bringing the business into UGL gives us another quality MGA operation, more diversification and more bandwidth to grow in a market we know is only going to become more important.
“Against the backdrop of the current political and economic climate, more people are looking at alternative options for protecting their health and financial security. We see long-term demand for well-designed protection products, and Lutine provides us with a superb platform to build on.”
The move further builds on UGL’s stated plans to find opportunities in businesses it considers subscale.
“A lot of companies are looking at their cost bases and can’t react to these opportunities as they come along.” Coles continues. “We’re nimble enough to do so, and we’re very happy to swim in these waters, where we see opportunities for growth by providing products for specialist needs.”
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