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Camargue acquires Synergy XOL
Camargue Underwriting Managers has acquired UMA, Synergy XOL (Pty) Limited, following the passing of the company's managing director, Peter Hodgson in July 2014. The acquisition is effective 1 January 2015.
Mitch Marescia
Hodgson was the integral centre of underwriting at Synergy XOL and with his passing his excess of 40 years' experience in the liability field were lost. Synergy XOL director Amanda Davis, in discussions and agreement with Compass Insurance Company Limited, Lireas Holdings, and Camargue, agreed that the UMA's clients would be best served by Camargue. Its products will be underwritten and administered by Camargue on behalf of Compass Insurance Company Limited.
John Stebbing
Commenting on the sale, Davis, who will remain on for a few months before exiting the business to pursue interests outside insurance, says that being in the specialised liability arena, Camargue is indeed a safe home for all Synergy XOL clients. "Under Mitch Marescia, John Stebbing and the extended team with its wealth of experience, our clients will continue to enjoy the exemplary service they have come to expect."
Camargue director: General Liability, John Stebbing, who will oversee the new line of cover for the Group, says: "The acquisition of this business best known for providing excess of loss cover insurance broadens our scope of offerings, allowing us to tap into new markets."
