HBC Group, one of the leading insurance intermediary groups in the German-speaking region, has expanded its international marine expertise and Nordic market footprint with the acquisition of DUPI Underwriting Agencies Nordics A/S (DUAN).
As a Lloyd’s coverholder, the company maintains an established network of brokers throughout the Nordic region.
DUAN leverages an experienced management team with over 50 years of combined industry experience, providing strong expertise in disciplined risk management, underwriting, and claims handling under the Nordic Plan.
“With DUAN, we are welcoming a highly professional team that perfectly complements our international marine expertise,” said Gert Schlossmacher, CEO of HBC Group. “Together, we will build an even stronger foundation for growth, quality, and trust across this important market.”
For HBC Group, this acquisition is a calculated step toward diversifying its specialty managing general agent (MGA) portfolio.
Dr. Sebastian Friese, CFO HBC Group, commented: “This acquisition represents another important step in our strategy to expand a diversified specialty MGA offering within the HBC Group. It further enhances our underwriting and risk-management expertise and strengthens our ability to deliver innovative products that meet the evolving needs of our clients and the broader market.”
The divestment was agreed upon by the previous unique shareholder, SMABTP Group, as part of a strategic realignment to focus on markets better suited to their construction expertise.
“DUAN is a strong and respected Nordic agency, particularly in Marine Hull. However, the Nordic market does not offer the construction development that aligns with SMABTP’s historical expertise and our strategic ambition to build a European multiline insurer,” explained Hervé Leblanc, Deputy CEO, International and Key Accounts, SMABTP Group, unique shareholder
Leblanc added that the transition ensures DUAN is paired with a shareholder “whose strategy is fully adapted to the Nordic market.”
Peter Kegel, CEO of DUPI, stated: “We are grateful for the professionalism and commitment of our Nordics colleagues over the years. We are confident they will continue to thrive with a shareholder fully aligned with the Nordic market. For DUPI, this transition allows us to focus our energy on developing our European multiline activities in the Netherlands and Belgium.”
Lars Hendriksen, Managing Director Nordics, added: “Becoming part of HBC Group is a natural next step for us. We look forward to combining our local expertise with HBC’s international strength – for sustainable growth and real added value for our partners.”
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