NBS Expands Its Reach With Acquisition Of Capital Markets Underwriting
14 July 2023
NBS Underwriting (NBS), a leading Managing General Agent, is pleased to announce its recent acquisition of Capital Markets Underwriting Limited (CMU), an independent Underwriting Agency and Lloyd’s Coverholder. This strategic move is a significant step in NBS’ mission to double its size within the next five years through organic growth and strategic acquisitions.
Following its successful acquisition of The Underwriting Specialist (TUS) in 2021, this latest deal demonstrates NBS’ commitment to expanding its product portfolio and strengthening its position in the insurance market. The addition of CMU aligns with NBS’ UK growth ambitions and brings a complementary insurance specialist into its expanding business. The acquisition is a strategic move for NBS, enabling the company to enrich its insurance portfolio through the addition of commercial combined products and the integration of specialised expertise from both organisations.
Steve Cowman, Managing Director of NBS, expressed enthusiasm about the prospect of working with CMU. He stated, “This acquisition allows us to expand into the commercial combined arena and provide an even wider range of products to brokers. The transaction strengthens the position of both NBS and CMU in the broker market, delivering significant synergies and granting our brokers a competitive advantage with multiple product offerings. We look forward to welcoming CMU to the NBS family.”
Stan Kaznowski, CEO of The NBS Group, emphasised the importance of acquisitions in supporting the company’s ambitious growth plans. He stated, “Our strategy at NBS is focused on expanding our business, and acquisitions play a key role in achieving our goals. The purchase of CMU presents an excellent opportunity to complement NBS’ existing expertise in the UK and Irish markets, further building on our success.”
CMU’s Director, Tim Mahon added, “The opportunities that have opened for CMU by becoming part of the NBS group are vast, and we look forward to growing our business alongside our new colleagues. As service, product range, and technology become even more important for brokers, CMU can leverage the capabilities that NBS already has in place. Our expert team of underwriters will continue to apply their expertise to commercial combined as they have always done, now with the strength and backing of NBS.”
Following the acquisition, CMU will continue to operate from its headquarters in Harpenden, Hertfordshire, providing uninterrupted service to its valued partners and clients.
About NBS
NBS Underwriting is an award-winning Managing General Agent (MGA) established in 2011. Specialising in providing competitive and market-leading insurance policies across commercial and personal lines, both in the UK and Ireland. Its comprehensive product offerings include the leisure and hospitality industry, retail, petrol stations, food risks, property, liability, community, and care homes. By partnering with established insurers that provide ‘A’ rated capacity, NBS offer specialised coverage and better rates to broker partners. With £100 million Gross Written Premium (GWP) and a dedicated team of 78 employees across four locations in the UK and Ireland, NBS continually strive to deliver innovative insurance solutions.
About CMU
Capital Markets Underwriting Limited (CMU) is an independent underwriting agency and Coverholder at Lloyd’s. Incorporated in 2008, CMU offers capacity supported by a range of ‘A’ rated Lloyd’s, London market, and provincial insurers. The company specialises in Commercial Combined, Liability, retail, pubs, nightclubs, guesthouses and hotels, restaurants, property owners, and household insurance. CMU is committed to delivering competitive rates, healthy commission levels, and personalised service to its broker partners