Oak falls to Somerville
Lloyd's underwriting agency Somerville has purchased high net worth specialist Oak Underwriting, in a bid to grow the business and add new products to its stable.
Andrew Cross, Somerville's founder has been made chairman of Oak, while the agency's existing managing director, Tony Lumsden-Cook, will remain in position to lead the business.The Somerville Group has interests in underwriting ventures, including Plum Underwriting, third party administration and two Lloyd's brokers.
"I have watched Oak's successful product and branding flourish and mature," said Mr Cross. "When this opportunity came along, it was the culmination of a long ambition to grow
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