The investment is poised to expedite Certa’s product development and broaden its geographical reach within the UK.
Markel has outlined that this strategic alliance not only supports Certa’s expansion plans but also positions the insurer to tap into the substantial long-term growth potential within the evolving tax management sector. The investment signifies Markel’s commitment to staying at the forefront of niche markets.
In addition to the financial backing, Markel will actively collaborate with Certa’s management team to bolster the MGA’s business strategy. The partnership is expected to merge with Markel’s existing in-house Warranty and Indemnity (W&I) portfolio. The W&I portfolio specialises in providing mergers and acquisitions (M&A) insurance coverage tailored for small and medium-sized enterprise (SME) transactions, catering to buyers located in the UK and the European Economic Area (EEA).
Founded in 2019 by Ed Beckwith, Tom Cartwright, Rachel Hine, and Adam Singer, Certa emerged with a vision to establish a specialised tax underwriting Managing General Agent (MGA), counting Markel among its initial capacity providers.
Evolving over time, Certa has become the sole underwriting agency dedicated exclusively to tax and contingent risk insurance, boasting support from 12 capacity providers. With its headquarters in London, Certa has expanded its presence with offices in Germany and Spain.
Speaking about the investment, David Sawyer, Divisional Managing Director of Professional and Financial Risk (PFR) and Cyber at Markel International, explained: “Markel has provided capacity to Certa from day one, and in a short period of time Certa has become a market-leader in its specialist sector. We believe the business has plenty of headroom for growth in the coming years as the tax sector continues to mature.
“We look forward to continuing to work with Certa’s excellent team of tax experts as we play a key role in accelerating growth across the MGA’s operations in 2024 and beyond.”
Ed Beckwith also commented, saying: “We are extremely excited to have secured a 49% investment from an organisation with Markel’s specialty lines pedigree. Markel’s extensive global footprint, coupled with its high-level underwriting and operational expertise, will hugely aid our potential in developing more tax insurance solutions and other products, as well as providing crucial capacity support for our next expansion phase.”
He added that Certa’s teams were eagerly anticipate commencing a partnership with David and the broader Markel team to propel Certa into the next phase of growth.
Author: Joanna England
