NFP, the international insurance brokerage and consulting firm owned by Aon, has acquired Bspoke Insurance Group, a UK-based network of specialist managing general agents (MGAs), underwriters, and distribution businesses.
The deal strengthens NFP’s position in the UK’s fast-growing delegated authority market, expanding its access to specialist underwriting expertise. Bspoke will continue to operate independently, retaining its existing brands.
Headquartered in Leeds, Bspoke also maintains offices in London, Shropshire, Gloucestershire, Essex, and Liverpool. The group was formed in 2022 through the merger of Precision Partnership and UK General Insurance Group. Its multi-class product portfolio spans property, lifestyle, high-net-worth, and transportation lines, while offering flexible distribution solutions for brokers, affinity groups, and scheme partners.
The acquisition comes amid heightened interest in the UK MGA market from brokers, investors, and carriers. MGAs now control a significant share of the commercial SME and specialist insurance segments, leveraging strengths such as rapid market access, technical underwriting expertise, and the ability to serve niche or emerging risks.
Although the sector faces growing regulatory scrutiny—particularly around capital flows and potential conflicts of interest—market confidence in MGAs remains high. Their agility, sector-specific insight, and capacity for innovation continue to drive M&A activity, as firms look to consolidate underwriting talent and extend their distribution reach.
