Managing general agent NBS Underwriting has acquired underwriting agent and Lloyd’s coverholder Capital Markets Underwriting Limited as part of its stated aim to double in size over the next five years.

Steve Cowman, managing director of NBS, said: “This acquisition allows us to expand into the commercial combined arena and provide an even wider range of products to brokers. The transaction strengthens the position of both NBS and CMU in the broker market, delivering significant synergies and granting our brokers a competitive advantage with multiple product offerings.”

Stan Kaznowski, CEO of the NBS Group, added: “Our strategy at NBS is focused on expanding our business, and acquisitions play a key role in achieving our goals. The purchase of CMU presents an excellent opportunity to complement NBS’ existing expertise in the UK and Irish markets, further building on our success."

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