Trawick International has agreed to acquire a controlling stake in UK-based Greenlight Insurance, expanding its niche market presence.
Financial terms of the transaction were not disclosed.
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Greenlight Insurance is a specialist in providing cover for high-performance, motorsport, collectors’ and modified vehicles.
Vehicle enthusiasts Tony and Neil Fehily founded Greenlight Insurance in 1996.
It is a coverholder at Lloyd’s and authorised and regulated by the Financial Conduct Authority.
The company’s offerings also include motor insurance for expatriates under its Eaglesure brand.
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By GlobalDataTrawick said the investment in Greenlight is aimed at diversifying its portfolio further and solidifying its foothold within the UK market.
Following the deal, Greenlight joins the Trawick family of companies, which includes brands such as Trawick International, SureGo Administrative Services and Tuman Global Solutions.
Trawick president and CEO Daryl Trawick said: “Trawick is in an unprecedented period of expansion. Investing in Greenlight helps accelerate the company’s strategy of growth and diversification, and I am thrilled that the remarkable team at Greenlight was open to a partnership.
“Their business interests and innovative culture align with ours, and the affiliation is certain to be mutually beneficial.”
Greenlight Insurance managing director Tony Fehily said: “I am delighted that Trawick International has taken an interest in Greenlight. We believe the partnership will strengthen Greenlight’s market position and create many opportunities in the future.
“Due to the complementary nature of our two businesses, it was an easy decision for us to join forces with Trawick and I look forward to our future endeavours together.”
This move follows Trawick’s recent initiatives including a partnership formed in October 2023 with Starr Insurance to launch three new travel insurance policies underwritten by Starr Indemnity & Liability Company.
Meanwhile, in July 2023, Trawick unveiled an international private medical insurance plan for customers in Latin America and the Caribbean.
