Occam Underwriting, the London-based specialist lines-focused managing general agency, has completed the acquisition of Beech Underwriting Agencies Limited, having received the required approval from the Financial Conduct Authority in the United Kingdom.

Beech Underwriting, based in Maidstone, UK, is an approved Lloyd’s cover-holder that has been a market leader in the placement of terrorism and other specialist-related insurance for more than 20 years.

The acquisition is the continuation of Occam’s strategy to diversify into additional specialised lines of business and is supported by majority investor Hudson Structured Capital Management Ltd, doing its re/insurance business as HSCM Bermuda, an asset manager specialising in the re/insurance and transportation sectors.

Occam chief executive officer Mark Fisher said: “Everyone at Occam is delighted that Beech Underwriting is now part of the Occam Group.

“The team at Beech have built a very successful MGA, with agents throughout the UK, and we can now look ahead to developing and supporting them moving forward. They have a strong relationship with an established panel of underwriters that the management team at Occam are also looking forward to working with.”

Michael Millette, managing partner at HSCM Bermuda, said: “We are excited to be adding the Beech team and business to Occam. They have built a business on thought leadership, in the same spirit as ours, and we believe the two together are positioned for substantial growth.”