Announcing acquisition of Genesis Special Risks and incorporating 1Edge Insurance
Stubben Edge is pleased to announce two exciting developments, expanding its capabilities for IFAs and brokers.
Firstly, Stubben Edge has acquired the specialist international insurance firm Genesis Special Risks Ltd (GSR), along with its experienced team, led by MD Nick Howard. GSR is a Lloyd’s broker and has a longstanding track record in the provision of bespoke warranty and related insurance products.
Founded in 2002, GSR provides wholesale insurance and reinsurance cover across a wide range of specialist products, notably Guaranteed Asset Protection, Assistance and Extended Warranties. Their expert team ably support Stubben Edge’s current growth ambition to have over 1m live policies by the end of 022. Having worked successfully together for several years providing products for Stubben Edge’s platform, the acquisition of GSR represents the melding of a well-respected broking firm with a dynamic FinTech company.
Nick Howard, Managing Director and founder of GSR, comments, “We are very excited to be a part of the onward journey with Stubben Edge, bringing the knowledge and expertise of the team, combined with GSR’s broking heritage, into one of the UK’s most exciting FinTech businesses.”
Secondly, Stubben Edge has recently incorporated 1Edge Insurance PCC Ltd, a Guernsey-based company which will offer our clients international access and integrated services, including Protected Cell Management.
By integrating the latest in data and technology, 1Edge will offer brokers and affinity partners insurance products specifically tailored to their needs, drastically cutting down the time it usually takes to get to market.
1Edge also will be able to set up captive propositions and offer Protected Cell Management, giving customers further options in their financial risk management. With much of the insurance industry remaining manual, 1Edge offers insurance products that are bespoke and nimble, specifically developed for brokers and affinity partners.
Gavin St Pier, Non-Executive Director of 1Edge, says, “1Edge brings the expertise of Stubben Edge Group and the opportunities of InsurTech to Guernsey. We expect to be a dynamic player in Guernsey, creating an era of new opportunities for insurance on the island.”
Chris Kenning, CEO of Stubben Edge Group, notes, “We’re very excited to combine our strengths with GSR to provide the highest-quality insurance products, and to establish 1Edge to equip brokers and IFAs a wider selection of entry points into the market. With these developments, we will continue to build strong relationships with clients, tailoring products to their specific needs.”