Thomas Miller acquires a majority shareholding in Osprey Underwriting Agency
Thomas Miller, a leading international provider of insurance, professional and investment services, has acquired a controlling shareholding in Osprey Holdings Ltd, a provider of marine and aerospace insurance products. The purchase is subject to regulatory approval.
Established as an Underwriting Agency in 1991, Osprey offers a broad range of marine insurance products and has recently diversified into aerospace. Osprey's growth since 1991 has come from delivering fixed premium P&I and related insurance solutions to niche markets around the world and notably it was one of the first such dedicated Agencies to do so in the London insurance market.
The acquisition of Osprey expands Thomas Miller's product range both in terms of the products offered by Osprey, but also in expanding Thomas Miller's managing agency capability.
Hugo Wynn Williams, Chairman of Thomas Miller, says:
"In purchasing a majority shareholding in Osprey we are bringing into Thomas Miller a business that currently operates in areas adjacent to our current core businesses and as such Osprey is a logical extension of our business lines. It is also a useful acquisition to expand our managing agency capabilities. We are developing plans for further growth in this sector and we will make an announcement on these plans in due course."
Guy Pierpoint, Chief Executive Officer of Osprey says:
"Thomas Miller is an excellent fit for Osprey. Not only do its existing business and values fit well with ours at Osprey, but the infrastructure and support now available to us will enable us to grow and diversify the current Osprey business lines and also diversify into new product areas."
For further information, please contact:
Roland Cross / Gareth David - Four Broadgate
+44 (0) 20 3697 4200
Notes to editorsThomas Miller
Thomas Miller is an independent and international provider of insurance, professional and investment services. Most of the businesses it owns or manages are acknowledged leaders in their chosen markets.
Established in 1885 it has its origins in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today it manages a large percentage of the foremost insurance mutuals.
Increasingly Thomas Miller has applied its knowledge and expertise to the development of specialist privately owned businesses.
Principal activities include:
- Management services for transport and professional indemnity insurance mutuals
- Investment and wealth management for institutions and private clients
- Professional services
- Buildings defects insurance and risk management
- Marine related insurance