Deals: Tokio Marine HCC is Buying Direct Commercial Ltd

Tokio Marine HCC International (TMHCCI), a member of the Tokio Marine HCC (TMHCC) group of companies based in Houston, Texas, today announced it has signed a definitive agreement to acquire Direct Commercial Limited (DCL), a specialist UK commercial motor managing general agent with more than two decades’ experience in fleet insurance underwriting, administration and claims services. The acquisition includes DCL’s sister company, Direct Commercial Premium Finance Limited.

Headquartered in Chelmsford, Essex, DCL is one of the UK market’s leading and fastest-growing Motor Fleet underwriters, providing commercial fleet cover for operators across the UK. DCL writes over £200 million in gross written premium and insures one in nine commercial trucks on UK roads. DCL provides commercial motor products across fleet, multi-vehicle and individual risks through a dedicated UK broker network. DCL will continue to operate as a standalone business, preserving its established brand, team, and broker relationships, while benefiting from the scale and financial strength of the wider Tokio Marine HCC group to support its growth ambitions.

DCL represents a new business line for TMHCCI. As one of the world’s leading specialty insurers, with a track record of building capability across complex and technical lines, the addition of UK commercial motor underlines the group’s commitment to growth and diversification across specialty lines. TMHCCI’s depth of underwriting expertise across its existing portfolio will carry through into the commercial motor market.

Thibaud Hervy, Chief Executive Officer, TMHCCI, said: “DCL brings us a leading specialist capability in UK fleet insurance, supported by strong underwriting discipline, claims capability and broker relationships. This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers in a technically demanding and fast-growing market. We share a strong client-focused, expertise-led culture. We are delighted to welcome Phil and his team to the TMHCCI family.”

Phil Cunningham, Chief Executive Officer, DCL, said: “DCL has built a highly successful business founded on specialist commercial motor expertise, disciplined underwriting and enduring broker relationships. TMHCCI is the ideal partner to support the next stage of our development, and this transaction represents an exciting opportunity for our people, brokers and clients. By combining DCL’s proven capabilities with TMHCCI’s scale, resources and long-term commitment to specialty insurance, we will be well positioned to accelerate our growth while maintaining the expertise, accessibility and service that have underpinned our success.”