This move is a step in NBS’ mission to double its size within the next five years through organic growth and deals such as the one for Capital Markets Underwriting.
Furthermore, following its deal to absorb The Underwriting Specialist in 2021, this deal shows the commitment from NBS to expand. This includes its product portfolio and strengthening its position in the insurance market.
CMU will continue to operate from its headquarters in Harpenden, Hertfordshire and provide services to its partners and clients.
Steve Cowman, managing director of NBS, expressed enthusiasm about the prospect of working with CMU. He stated, “This acquisition allows us to expand into the commercial combined arena and provide an even wider range of products to brokers. The transaction strengthens the position of both NBS and CMU in the broker market, delivering significant synergies and granting our brokers a competitive advantage with multiple product offerings. We look forward to welcoming CMU to the NBS family.”
Stan Kaznowski, CEO of The NBS Group, emphasised the importance of acquisitions in supporting the company’s ambitious growth plans. He stated, “Our strategy at NBS is focused on expanding our business, and acquisitions play a key role in achieving our goals. The purchase of CMU presents an excellent opportunity to complement NBS’ existing expertise in the UK and Irish markets, further building on our success.”
CMU’s Director, Tim Mahon added, “The opportunities that have opened for CMU by becoming part of the NBS group are vast, and we look forward to growing our business alongside our new colleagues. As service, product range, and technology become even more important for brokers, CMU can leverage the capabilities that NBS already has in place. Our expert team of underwriters will continue to apply their expertise to commercial combined as they have always done, now with the strength and backing of NBS.”
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