NFP, the international insurance brokerage and consulting firm owned by Aon, has acquired Bspoke Insurance Group, a UK-based platform of specialist managing general agents (MGAs), underwriters and distribution businesses.
The acquisition strengthens NFP’s presence in the UK’s growing delegated authority space and enhances its access to specialist underwriting expertise. Bspoke will continue to operate independently under its existing brands.
Headquartered in Leeds, Bspoke also has offices in London, Shropshire, Gloucestershire, Essex and Liverpool. It was formed in 2022 through the merger of Precision Partnership and UK General Insurance Group and offers multi-class products across property, lifestyle, high-net-worth and transportation. Bspoke also provides flexible distribution for brokers, affinity groups and scheme partners.
“The Bspoke team will strengthen our existing suite of insurance solutions while expanding our technical underwriting expertise and specialist product knowledge,” Pawley said. “Their growth and client retention record speak for themselves.”
Bspoke has positioned itself as a key player in the UK’s specialist insurance space. Founder Tim Smyth said the acquisition gives Bspoke the resources to accelerate growth while retaining its market focus.
“With NFP’s support, we can build on our platform, drive organic growth and pursue acquisitions to scale our niche proposition,” Smyth said.
The deal comes as the UK MGA market continues to attract strong interest from brokers, investors and carriers. MGAs now control a sizeable portion of commercial SME and specialist business, with their value proposition built around speed to market, technical underwriting, and access to underserved or emerging risks.
While regulatory scrutiny is increasing, especially around capital flows and conflicts of interest, market participants continue to back MGAs for their agility and deep sector knowledge. M&A activity in the segment remains active, as firms seek to consolidate underwriting talent and expand their distribution networks.
