UK based RSA Insurance Group has acquired Cotswolds-based Oak Underwriting, an underwriting agency specializing in high net worth insurance, from Somerville Underwriting Holdings.
Oak Underwriting specializes in high net worth insurance solely dedicated to high value homes, fine art, antiques, collections, silver and jewelery.
Oak also provides assistance with risk management, advice and marketing, enabling brokers to define, implement and improve their niche business in the high net worth arena.
The acquired underwriting agency, writes business on behalf of Brit Insurance and Chaucer Insurance for its high value home and family motor fleet products.
As at 30 June 2010, Oak Underwriting had gross assets of approximately GBP7m.