The acquisition of OMIS marks the second acquisition for Bennett Christmas after becoming a partner in Ethos Broking in 2019
Offshore and Marine Insurance Services acquired by Bennett Christmas. (Credit: Pete Linforth from Pixabay)
Bennett Christmas has acquired Offshore and Marine Insurance Services (OMIS), a UK-based independent broker, in a move to foray into the energy sector.
Financial terms of the deal have not been disclosed by the UK-based insurance agency.
Founded in 1997, OMIS offers advice and insurance for the energy sector. The Warwickshire-based company, which manages £1.5m gross written premium, will integrate into Bennett Christmas.
All members of OMIS’ staff will be retained, said the insurance agency.
Bennett Christmas MD comments on the acquisition of Offshore and Marine Insurance Services
Bennett Christmas MD Tom Stripp said: “Adding this specialist sector to our portfolio is immensely exciting and provides us with a strong platform for driving future growth.
“The new Offshore & Marine team will provide specialist cover for businesses, people and equipment in sectors including the offshore industries, marine and subsea equipment, renewable energy, specialist recruitment and energy contractors.”
The acquisition of OMIS marks the second acquisition for the insurance agency after becoming a partner in Ethos Broking in 2019. Ethos Broking, which is a part of the Bravo Group, had acquired a majority share in Bennett Christmas to help the latter move ahead in order to achieve its future growth ambitions.
Ethos Broking M&A director Vince Gardner said: “This acquisition fits well with our model of providing quality insurance services to general but also niche markets. This was an opportunity for Bennett Christmas to expand their offering and I’m sure there will be more specialist acquisitions across Ethos Broking in the future.”
Ethos Broking is made up of regional broking hubs, which actively pursue the acquisition of smaller satellite insurance brokers with the objective of achieving organic growth. The regional broking hubs are given access to capital by Ethos Broking to buy the smaller brokers.