Sale of Noble Marine by RSA

27 Feb 2019

Noble Marine is the UK’s leading provider of insurance for sailing dinghies and other pleasurecraft. Acquired by RSA in 2011 from its founders in a sale managed by Resolution Partners, RSA concluded that the business had become non-core and wished to find an exit.

The main highlights of the transaction are:

  • Quasi-MGA, generating attractive portfolio underwriting profits;
  • Strong interest from brokers and MGAs – more than 30 expressions of interest;
  • Transaction concluded with a new market entrant we identified, on favourable terms;
  • RSA had specific transaction requirements – to retain the underwriting on the same commission terms whilst maximising value in the sale; and
  • The Vendor provided very limited warranties and indemnities.

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