Somerville to merge Oak and Plum underwriting agencies
Somerville Holdings has announced its intention to merge its Oak Underwriting and Plum underwriting operations early in the New Year, subject to regulatory approval.
Plum brokers will benefit from the merger due to the broadening of its underwriting base, improvement to its claims handling capabilities and improved scope for new product development.
Oak brokers will in turn gain greater access to Plum’s Lloyd’s facilities and the combined business will now manage approximately £50m of gross premium income.
Bob Trott, managing director at Oak, will extend his remit by joining chairman Andrew Cross on the Plum board to oversee the merger. David Whitaker will
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