Managing general agent iprism completes second acquisition with support from Cripps

Cripps’ corporate team has advised iprism, a managing general agent (MGA) on its acquisition of S K Underwriting.

iprism is a managing general agent specialising in the construction, property, commercial and private client sectors. Using in-house technology, iprism delivers a range of insurance products to UK brokers. It operates an innovative proprietary insurance brokerage platform, with support from a team of expert underwriters, to provide access to a range of specialist insurance products for commercial and private clients, all backed by a panel of UK-based ‘A’ rated insurers.

S K Underwriting Limited, is a Kent-based company providing niche underwriting solutions for its agents in the commercial insurance sector.

This is the second acquisition in less than a year for iprism, having acquired Metier Underwriting, a specialist underwriting agency in Autumn 2022 as it looks to grow both organically and through acquisition.

Cripps is delighted to provide legal support to iprism on its growth journey and is well equipped to do so having completed in excess of 10 transactions in the insurance sector in the last year.

The Cripps’ team who worked on this project were  John Kirkwood, Lorraine Reynolds, Anna Drapper, Eleanor Thornton, and Emily Byrom, advising on all legal aspects of the transaction. David Ellis of Azets provided corporate finance advice to iprism.

Commenting on the legal support provided, Managing Director, Ian Lloyd said “Since we originally worked with Cripps on our MBO we have continued to turn to them for legal support both with our acquisition strategy and other matters. Along with Azets, we appreciate all their efforts to get this project completed and are looking forward to working with them on our next one!”

To learn more about how Cripps can support your business on its growth journey, please contact a member of the corporate team.