Primary buys back UK General MGA

The Primary Group is to take a majority stake in the Leeds-based personal lines MGA UK General Insurance, which it sold to J C Flowers in 2017, for an undisclosed sum.

Following the deal, Tim Smyth will take over as chief executive officer of UK General. He is currently CEO of RCHL, a Primary Group investment that owns a number of specialist commercial and personal lines MGA businesses. Smyth’s previous roles include founder and CEO of MGA incubator, Precision Partnership, which was acquired by Primary in April 2019.

John Spencer, UK General executive chairman will step down from the business with immediate effect and Michael Warren, chief finance officer at the Primary Group will join the board as non-executive director.

Warren commented: “On a personal level, I am excited to be back at UK General where I spent five years in the business, when it was part of the Primary Group stable of companies and a leading force in the personal lines schemes sector.”

Smyth added: “Our investors have ambitious plans for the business, and I look forward to leading it on a successful new journey, focusing on profitable underwriting and a strong customer culture, alongside a skilled and resourceful team.”

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