HSB and Premier Guarantee will create a strong risk management-led specialist group of companies
HSB (UK and Ireland) today announced the completion of its purchase of the MD Group of companies including its managing general agent, MD Insurance Services Ltd and the well-known Premier Guarantee brand.
The acquisition supports HSB’s UK growth ambitions by expanding its insurance offerings within the UK construction sector to create a strong engineering-led specialist organisation focused on a risk management-led approach.
“I’m delighted to be welcoming our Premier Guarantee colleagues into our HSB family,” commented Stephen Worrall, CEO, HSB (UK and Ireland). “This is a great acquisition as it supports our mutual future ambitions and strategy for growth. The combined businesses enhance our strength as a specialist insurer and risk solutions partner.”
Premier Guarantee will continue to operate from Birkenhead and Jacki Goodman will remain as Managing Director, reporting into HSB’s CEO, Stephen Worrall, in the new organisational structure.
Stephen Worrall continued: “Together, we will build on our strong products, technical expertise and customer service to provide a greater range of solutions to customers.”
Jacki Goodman, Managing Director of Premier Guarantee added: “HSB sees the value Premier Guarantee brings to the construction sector and they recognise that our knowledge, skills and experience complement their engineering-led services. Bringing the two together will strengthen both businesses and provide even more value to customers. Most of all, I’m delighted for my colleagues and staff who face the prospect of a bright and exciting future ahead, with opportunities to grow and prosper as part of a new and forward-thinking organisation.”
HSB has had a relationship with the MD Group since 2012, providing specialist machinery inherent defects insurance and latterly primary insurance capacity for its inherent defects insurance facility. Now in its 25th year, Premier Guarantee is a leading provider of structural warranty, building control and other insurance services to the construction sector across the UK.
Based in Birkenhead, the MD Group has 443 employees, including a national network of field-based building surveyors.
If you are a customer and have further questions about the deal, then further information is available here.