Accretive Insurance Solutions announces the acquisition of Harman Kemp

Accretive Insurance Solutions, a sister company of AssuredPartners is pleased to announce the acquisition of Harman Kemp Holdings Limited. The deal, which has already received regulatory approval, was completed on 2 July 2024.

Established in 1991, Harman Kemp has built a reputation as one of the leading independent Lloyd’s brokers specialising in excess and surplus lines business originating from MGAs and brokers based in North America, alongside business emanating from further afield including the Caribbean, Australasia and the Pacific Islands.

Harman Kemp is a foremost player in the placement of binding and delegated authorities on behalf of its clients and has recently accelerated its growth with
the addition of several new teams, including the hire of Paul Davis who brings a wealth of experience in the area of mortgage impairment and forced placed property. Controlling in the region of £127m / $165m GWP, the team of 38 will all remain in place and continue to trade under the Harman Kemp brand. Peter Slade will stay with the business becoming Chairman, a move which will see Paul Davis taking the role of CEO.

David Heathfield, CEO of AssuredPartners International, said:

“Over recent years we have expanded our footprint across the UK & Ireland by partnering with high-quality retail agencies and this acquisition demonstrates our ongoing commitment to expanding our wholesale capabilities. Our first acquisition under the Accretive brand in the UK, Harman Kemp will maintain its individual identity and operate alongside our existing wholesale operation to help create a platform for further growth in the wholesale market place. I am excited to welcome the entire team and look forward to seeing what we can achieve together as we target further growth via acquisition in the space.”

Peter Slade stated:

“We have been courted many times over the years and I am proud that after 33 years of building the business, we have found a partner that will not only support our continued growth but also allow us to maintain our core values and the independence that is so important to the clients we serve. I would like to take this opportunity to thank the staff (both past and present) all of which have played a fundamental role in creating such a terrific company. It is the responsibility of the CEO to ensure that any business is well placed to continue its growth journey in the future and the appeal with this partnership was our ability to keep doing what we do best but with the support of a larger group with significant funding behind us. I am genuinely excited about the opportunities that lie ahead for Harman Kemp and our wonderful team.”