Digital managing general agent (MGA) Ripe has agreed to acquire holiday homes insurance specialist Schofields Limited, marking its entry into the holiday homes segment.
The transaction, Ripe’s third major deal, is subject to customary regulatory approvals and closing conditions.
The move extends Ripe’s portfolio beyond its existing leisure lines, which include motorhomes, caravans, park homes, golf and boat insurance. Schofields is expected to retain its brand while gaining access to Ripe’s digital platform, pricing tools and marketing capabilities.
Founded in 1984 and based in Bolton, Schofields is a family-run business focused on specialist holiday homes insurance for properties in the UK and overseas. The firm has more than 10,000 policyholders and a 40-year presence in the sector.
Jonathan and Philip Schofield, who have led the company for the past two decades, will continue to run the business on a day-to-day basis alongside the Ripe team. Founder and majority shareholder Keith Schofield will remain involved as a consultant to support the transition and maintain continuity for customers and partners.
Alan Thomas (pictured above), CEO of Ripe, described the deal as “another exciting new chapter for Ripe as we enter the holiday homes insurance market.” He said Schofields has built its position over four decades and that Ripe plans to use its “technology and marketing expertise to further drive Schofields' growth while maintaining the exceptional customer service that has established their reputation as a trusted and successful provider.”
Keith Schofield, meanwhile, said the shareholders see Ripe as the right long-term owner after 40 years of independent operation.
“After 40 years we believe Ripe are the right stewards to take Schofields forwards. This partnership combines our trusted specialist approach with Ripe's innovative technology and digital capabilities, creating exciting opportunities for new and existing customers,” he said.
Read more: Big tax hit forecast by new report
The acquisition comes against a shifting fiscal backdrop for affluent homeowners and second-home owners in England. Budget 2025 introduced a new council tax surcharge for properties valued above £2 million, a measure expected to influence demand for high-net-worth household insurance and related risk management services as some clients reassess ownership costs and coverage needs.
A separate economic analysis has also pointed to the possibility of a broader “big tax hit” as policymakers seek to rebuild the UK’s fiscal buffer, with particular attention on higher taxation for high-net-worth individuals.
Commentators have warned that elevated tax burdens could prompt some wealthy clients to adjust discretionary insurance spending or rethink premium-heavy products, even as they continue to require specialist cover for high-value homes, holiday properties and other assets.
