URIS Group Limited (UGL) has acquired Lutine Assurance Services from Ardonagh Group as part of its strategy to strengthen its position in the UK protection market.
Lutine is a protection specialist offering group life solutions to small and medium-sized enterprises (SMEs) and corporates, including key person, partnership, and shareholder cover. The company operates exclusively through intermediaries as a Lloyd’s coverholder.
The company said the deal is the latest step in UGL’s growth strategy following its management buyout from Ardonagh Group in 2024, further diversifying its managing general agent portfolio. UGL plans to leverage its national broker relationships to expand Lutine’s reach beyond its traditional focus on SME group life solutions, positioning Lutine as the group’s platform for all protection-related business.
The company also intends to broaden Lutine’s product offering over time, including mortgage payment protection, short-term income protection, and other specialist protection products. All products will be medically underwritten and supported by high-quality capacity.
“Lutine is a highly respected specialist in business protection, with deep technical expertise, historic and ongoing relationships with its capacity providers, and strong broker relationships. Bringing the business into UGL gives us another quality MGA operation, more diversification, and more bandwidth to grow in a market we know is only going to become more important,” said Derek Coles, chief executive officer of UGL.
“Against the backdrop of the current political and economic climate, more people are looking at alternative options for protecting their health and financial security. We see long-term demand for well-designed protection products, and Lutine provides us with a superb platform to build on.”
This marks the second time Coles has acquired Lutine; he previously ran the business in 2014 as chief executive of Ryan Direct Group, part of Ryan Specialty Group.
