The acquisition of the specialist insurance firm will strengthen the Group’s insurance marketplace
Stubben Edge Group is delighted to announce the acquisition of Cedar Underwriting, a specialist Managing General Underwriter (MGU), subject to regulatory approval from the Financial Conduct Authority (FCA). Cedar’s flexible and groundbreaking approach to insurance, including functioning as an MGU while providing the services of a Managing General Agent, sets them apart from traditional underwriting businesses.
Cedar Underwriting provides intermediaries with the ability to access niche commercial products as well as Lloyd’s markets. Cedar can offer experienced, innovative underwriting and has a strong reputation within the market to deliver high quality insurance solutions for the general insurance market. Additionally, Cedar’s bespoke Management Information (MI) System enables them to understand their broker and insurer partners’ performance in real time and ensure a disciplined underwriting approach.
Stubben Edge Group is excited to integrate Cedar’s unique offering into its larger offering to intermediaries, brokers and financial advisors. Cedar’s in-house underwriting capabilities for commercial insurance, flexible approach and MI technology are complementary to the Group’s current services. This acquisition will add incredible value to Stubben Edge Group’s product marketplace and distribution abilities.
Jordan Gregg, Managing Director of Cedar Underwriting, comments, “The opportunity to join the Stubben Edge Group is a real bonus for Cedar and will allow us to access many more clients and intermediaries. Their approach to financial services is new and exciting and fits in perfectly with the Cedar ethos.”
Chris Kenning, CEO of Stubben Edge Group, says, “We are excited to bring Cedar Underwriting on board. Their approach to underwriting insurance products is innovative and adaptable, and we look forward to offering their wealth of knowledge and expertise to our existing and new clients.”