Kingfisher – a new generation insurance business for specialist risks
Specialist insurance provider Vantage Holdings has been re-launched today as Kingfisher Holdings (Kingfisher), following a 12-month change and transformation programme. The broking and underwriting business, which is focused on the UK specialist risk sector also outlined an ambitious development strategy based on both organic growth and acquisition.
Kingfisher includes established brokers in the specialist risk market covering non-standard lines including motor covering telematics, young drivers, vans, classic and collectable cars, leisure and travel and its managing general agent, First Underwriting.
In 2019 the group handled gross written premium of £124m and is looking to increase this four-fold over the next five years. It has over 300 employees, spread across its centre of excellence in London, Redditch, Brentwood, Halesowen and Farnham.
Jacquie Boast, Group CEO of Kingfisher, has overseen a multi-million-pound investment in transforming the business ahead of today’s launch. The change and transformation programme has included the creation of a new operating model underpinned by new technology and efficient processes, the setting up of a central support function based in Redditch, the hiring-in of new skills and talent and the establishment of a new management team.
Boast commented: “Having now completed the change and transformation programme with our existing portfolio, we now have the base from which to support growth across our chosen specialist insurance markets. We believe that our combination of deep-rooted specialist knowledge and market understanding, with our new operating model and capabilities, means we are an ideal home for established best of breed specialist insurance brokers looking to move their businesses forward.”
Boast added: “The combination of talent, technology, and a new operating model were essential to ensure the group’s businesses have the tools they need to meet and exceed changing customer expectations. Kingfisher is all about putting customers at the heart of what we do, enabling them to work with us through whichever channel they want.”
The group has made a number of new senior management appointments over the last 10 months including Andy James as chief commercial officer and Bruce Gray, chief financial officer at Kingfisher Holdings and Tom Donachie who has recently been promoted to managing director of First Underwriting.
Kingfisher Holdings is owned by US niche insurance specialist NSM, which is backed by White Mountains Insurance Group, a diversified insurance and related financial services holding company based in Hamilton, Bermuda.