Specialist MGA and broker services platform, OneAdvent has completed a management buyout, to boost its UK and European market presence and product offering. The buyout team is led by current managing director Tim Quayle, who becomes CEO.

Former group CEO and founder, David Hill, is also part of the investment team and will remain with the business as a non-executive director.

Quayle said: “This is a landmark moment for OneAdvent and our leadership team. It provides us with access to new funds which we will use to grow out our existing support services and capabilities, both here in the UK and more widely across Europe.

“With the continuing growth of the MGA sector, we see a huge opportunity for a flexible independent MGA platform that understands what entrepreneurial underwriters and MGAs need to succeed."

He added: “Whilst the MBO gives us the financial strength to broaden our market appetite and offering, we will maintain the identity and independent approach which our existing MGAs and partners welcome and have come to rely upon.”

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