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Leppard to acquire Manwood book

05 April 2017 Stuart Sinclair, Leppard Underwriting
Stuart Sinclair, executive director at Leppard.

Stuart Sinclair, executive director at Leppard.

Doug Laburn, Executive Manager of Lombard Partnerships.

Doug Laburn, Executive Manager of Lombard Partnerships.

Leppard Underwriting has acquired the Manwood Underwriters book of business, with transfer set to take place on 1 July 2017.

“Chris Watson and his team will bring with them additional skills and long-standing relationships with the brokers who currently support them,” says Stuart Sinclair, executive director at Leppard.

Manwood was established in 1998 as a Professional Indemnity underwriter for Lloyd’s of London and more recently Centriq.

“This is a very exciting opportunity for Manwood and Leppard and I am looking forward to working together in the future,” says Watson, Manwood founder and CEO.

The Manwood book acquisition follows the purchase by Leppard of 32% shareholding in Abelard Underwriting Agency. Neither of these deals would have been possible without the support of Lombard Insurance Company.

“Manwood joining the Leppard team is a really exciting step for the business” believes Doug Laburn, Executive Manager of Lombard Partnerships, “further consolidating Leppard’s position as one of the leading PI & liability operations in the South African market.”

Leppard, with its current R400m capacity across all lines, has seen significant organic growth in the Professional Indemnity and General Liability space over the past few years, and last year launched a Directors and Officers Liability product, further increasing their overall product offering.

“We look forward to working with Chris in the transfer of the book to Leppard and his future involvement in other parts of our business,” says Sinclair.

Quick Polls

QUESTION

Which of the following business models do you favour to achieve a sustainable succession outcome in your financial advice practice?

ANSWER

[a] I will find an independent financial planner to buy my business
[b] I will sell a portion of my advice practice to a large corporate
[c] I will join a large firm and give up my independence
[d] I will invite another independent financial planner to join me
[e] I will partner with a large firm
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