Bristol and London law firm Temple Bright has worked with the owners of UK insurance broker Bretton Woods International (BWI) on its sale to a major US wholesale insurance brokerage.
London-based BWI is a specialised insurance broker, focusing on open market and program placements, covering complex contingency, accident & health, cyber, professional liability, management risk and general liability.
It was founded in 2015 by Dan Goggin, a former Lloyd’s class underwriter with Ark Syndicate Management and previously a broker with Miller Insurance Services.
It is now looking expand further following its acquisition by Texas-headquartered Novatae Risk Group.
Novatae, a full-service wholesale insurance brokerage, managing general agency and program manager, serves more than 6,000 clients from 27 offices across the US.
It provides brokers and their clients with a range of specialty insurance products and services for complex and hard-to-place risks including property, casualty and workers’ compensation, cyber, professional and management.
BWI managing director Dan Goggin said: “We are excited for the next stage of our journey with Novatae.
“We are very proud of our reputation in existing classes of business and grateful for the continued support shown to us by both existing clients as well as markets. We are now well positioned to enhance our range of services. 
“Through organic growth and acquisition, the group will offer many great opportunities and will bring new business to the London market, further expanding the BWI offering.”
Novatae Risk Group chief executive officer Richard Kerr added: “Acquiring a well-established Lloyds broker was an important strategic addition to the Novatae expansion plan.
“Bretton Woods International has an exemplary reputation which fits perfectly with our mission to build new Lloyds coverholder facilities that deliver solid profits for our underwriting partners.”
The Temple Bright team was led by corporate partner James Vickerman, pictured above, who said: “I have worked with Dan and his team for a number of years and this sale is the culmination of the hard work that they have put in to growing an exceptional business.
“I have no doubts that Bretton Wood will continue to grow from strength to strength as part of the Novatae group.”
Novatae was advised by US-founded international law firm Locke Lord, whose team was led by partner Nick Jennings (London).
Temple Bright was launched in Bristol in 2010 using a tech-enabled, streamlined business model. It opened its second office in London EC2 in 2013 and now has more than 70 partners, evenly spread across the two locations.
The firm advises clients ranging from start-ups to PLCs across a range of sectors, with significant expertise in financial services.
