Beazley’s Momentum acquisition approved by FSA

by David Masters

Story link: Beazley’s Momentum acquisition approved by FSA

Beazley Group Plc announced yesterday that it has completed the acquisition of Momentum Underwriting Management Ltd following approval by the relevant authorities.

Lloyd’s and the Financial Services Authority have granted official approval to the merger.

Momentum’s team will move to Beazley’s London headquarters, and will continue to be managed by Chris Branch.

Branch’s team will form Beazley’s new Accident and Life division, strengthening the group’s portfolio.

Momentum’s office in Australia will become a Beazley subsidiary.

Beazley chief executive Andrew Horton said he is ‘delighted’ to welcome Chris Branch and colleagues to the Beazley team.

Horton added that Beazley’s new Accident and Life division will further diversify and strengthen its underwriting portfolio.