Sagicor seals underwriting acquisition

Sagicor recently acquired the Gerling at Lloyd’s Group, now Sagicor at Lloyds, which has been the principal capital provider of BSU since BSU started in 2000, the company said in a press statement.

Says Gary Ross, COO of Sagicor: “At Lloyd’s, we are delighted with this acquisition, adding, “BSU have been an important client of Gerling for the last seven years.”

Through this purchase “we not only secure the underwriting of the BSU book of business, but it also gives us an opportunity to develop other product lines” to distribute through BSU brokers.

Paul Byrne of BSU says, “The Directors of BSU have worked exceptionally hard over the last seven years to build a solid and profitable business and now is the right time for a larger entity to take control and take it to the next level.”

Byrne and his team will continue to operate the business from their Cheshunt base and said they are excited at the opportunities that lie ahead

The team at Sagicor at Lloyds has many years experience in the London market, he said, noting that he was looking forward to joining the Sagicor management team and taking the company to the European market place.

“We will be looking to introduce new product lines for the regional market for distribution through the web technology developed by BSU technology,” he said.