CONSHOHOCKEN, Pa., Oct. 26, 2016 /PRNewswire/ -- NSM Insurance Group, the national leader of industry-specific insurance program administration, announced Tuesday that it has acquired Vantage Holdings, a leading collector car and outdoor leisure program administrator in the UK, subject to FCA approval. This marks NSM Insurance Group's first international acquisition, and will serve as a platform for expanding NSM's presence in UK markets.
Vantage Holdings, which includes Vantage Insurance Services and Classic Insurance Services, is an industry-specific insurance program administrator that was established in 2004. The Classic Insurance Services program, which specializes in insuring classic cars, classic motor trade and high net worth collections, is the fourth collector car insurance program to be added to NSM's portfolio. Additionally, Vantage Insurance Services is one of the largest insurers of outdoor leisure and tour operator liability in the UK.
"We are excited to welcome Vantage Holdings to the NSM family," Geof McKernan, CEO of NSM Insurance Group, said. "A key aspect of our growth plans for this year was to find an opportunity to expand our business at the international level. We were attracted to Vantage because they have been aggressive and efficient in building their business over the past decade and have a reputation as a leading program administrator. Like us, Vantage is laser-focused on products for niche industries where they can achieve profitable, sustainable and renewable growth. Their shared approach to the insurance marketplace coupled with their ambitious, fast paced culture made Vantage a natural for us."
"We are absolutely delighted to be partnering with a business like NSM," John Collyear, CEO of Vantage said. "They, like us, are a highly specialized program administrator with substantial underwriting authority entrusted to them by their carriers. We are excited about the opportunities that lie ahead as we embark on a growth strategy and the beginning of our next chapter of development with NSM."
"NSM likes to do business with the UK because the insurance market is relationship driven and insurers continue to be innovative in their product design and in their overall view on insuring a very wide array of exposures," McKernan explained. "This acquisition provides us with a platform for entering the marketplace in the UK and competing on the international level. We will continue to enhance and grow Vantage's current books of business in the collector car, outdoor leisure and tourism spaces, and explore opportunities to expand into new industries."
About NSM Insurance Group
For more than 25 years, NSM Insurance Group has been an industry leader in the development, implementation, marketing and underwriting of industry-specific insurance programs and has grown to over $500 million in annual premium. The company's insurance programs include social services and behavioral health; CAT driven property; collector cars; workers' compensation; aviation; sports and fitness; microbreweries; and professional liability for architects and engineers. NSM Insurance Group is aggressively seeking to acquire additional niche specific insurance businesses and program manager. For more information, contact Bill McKernan, President, at 800-970-9877 ext. 111.
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SOURCE NSM Insurance Group