An insurance broker headquartered in Newport has been bought by US insurance giant NSM Insurance Group. Acquis, which is Europe’s leading provider of specialist insurance programmes for leased equipment to the asset finance market, has entered into an agreement to be acquired by NSM for an undisclosed sum.
The Welsh firm, which also has a base in Amsterdam and supports over 100 clients in 16 different countries, said the acquisition will ensure it is well placed to achieve its growth ambitions of expanding its services in existing and new territories.
Headquartered in Pennsylvania, NSM is a global leader in speciality insurance with premium of more than $1.5bn (£1.2bn) across over 25 niche insurance programs and brands in the US and UK including collector cars, pets, coastal condominiums, and sports and fitness. For over 30 years, it has specialised in investing in a broad portfolio of insurance companies in the US and Europe.
