HSB and Premier Guarantee have announced a deal that will see HSB acquire the scheme administrator of Premier Guarantee, MD Insurance Services. This deal, which is subject to regulatory approval, provides Premier Guarantee with the support of one of the most experienced and stable insurance groups.
HSB has had a relationship with Premier Guarantee since 2012, providing specialist Machinery Inherent Defects Insurance to customers. In 2020, HSB extended its relationship further by becoming Premier Guarantee’s primary insurance capacity provider for warranty schemes. The deal, which is subject to regulatory approval, will see Premier Guarantee become part of HSB.
Who are HSB?
HSB is a specialist engineering and technology insurance, engineering inspection and risk management services provider in the UK and Ireland. HSB is part of the HSB Group, which is a leading global insurance, engineering and technology specialist with over 150 years’ knowledge and expertise in engineering insurance and risk management.
HSB, itself rated A++ (Superior) by A.M. Best Company, is a member of the Munich Re Group, one of the top providers of reinsurance, primary insurance and insurance related risk solutions in the world.
Stephen Worrall, Managing Director of HSB commented: “With the same specialist risk management-led underwriting ethos, which is supported by an expert team of surveyors, Premier Guarantee are a complementary fit with HSB. And we’re really looking forward to welcoming them to our HSB family.”
Gary Devaney, CEO and Chairman of Premier Guarantee stated “This is an exciting development for Premier Guarantee. Over the past 25 years we have grown from covering single homes, to working with the largest house builders and residential projects in the UK. The support of HSB and the Munich Re group will allow us to continue this success story and better support our customers”
If you are a customer and have further questions about the deal, then further information is available here.