Lexicon Property is delighted to announce the acquisition of Oasis as part of its ambitious plans to become a leading MGA for mid-market property owners’ insurance.
Led by James Watkin and Gary Chapman, Lexicon is based in Essex and has a team of specialist underwriters with capacity provided by a select panel of leading UK insurers.
The addition of the Oasis portfolio will result in a total GWP in excess of £10million with a significant pipeline of new business opportunities in play.
The Oasis team, led by Nigel Attwood, will remain in their offices in Worthing to continue to serve their extensive broker base and focus on more non-standard risks within the property owners sector.
James Watkin, Managing Director of Lexicon Property said: "Nigel and his team bring with them first class capacity and the ability to write both standard and harder to place risks that supports our combined and diverse broker panel. We know our brokers value first class service in what can be a complex and challenging insurance environment and we see a multitude of synergies that will significantly enhance our offering to our brokers’ clients."
Nigel Attwood, Managing Director of Oasis said:" We are delighted to be joining forces with Lexicon at a time when we can see the clear benefits of being part of a larger organisation to help us expand our footprint in the specialist property owners sector."
Lexicon is part of the insurance group established by James McCaffrey and ex-Towergate Chairman, Peter Cullum which works closely with Minority Venture Partners (MVP).
Serial entrepreneur Cullum is ambitious to help expand Lexicon into a significant force within the specialist MGA community. Cullum said:" Lexicon is driven by a desire to provide the highest standards of service in the regional broker market, at a time when service from many of the major players has been declining. Our focus on specialist underwriting and excellent service is enabling us to win business in what remains a highly competitive space."