US firm announces acquisition of UK insurance company

Succession GroupTokio Marine HCC today announced its wholly-owned subsidiary HCC International Insurance Company PLC signed a purchase agreement with Qdos Holdings Limited and other selling shareholders to acquire Qdos Contractor of The Qdos Group.

Qdos Contractor is the only business included in the deal out of the eight companies that make up The Qdos Group. The remaining businesses will continue to operate independently through the current owners.

Qdos Contractor is a leading provider of insurance products and services to the growing UK independent contractor and freelancer market via an online digital delivery platform. The closing of the transaction is subject to regulatory approvals in the UK and Japan, and is expected to occur by the fourth quarter of 2018.

“We are pleased to acquire this outstanding agency and welcome its team of professionals to Tokio Marine HCC,” said Christopher J.B. Williams, Tokio Marine HCC’s Chief Executive Officer.

“This deal marks the start of an exciting new chapter for Qdos Contractor, after what has been a very successful period for the company. Following the restructuring of the group, we focused on driving growth through innovation and technology. With Tokio Marine HCC now at the helm, we are confident Qdos Contractor will build on its recent success,” said Alf Gordon, financier of The Qdos Group’s 2013 MBO and Chief Executive Officer of The Qdos Group.

Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings, Inc., a Delaware-incorporated insurance holding company.

Headquartered in Houston, Texas, Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom and Continental Europe.

With over 25 years of experience, Qdos Contractor is a specialist contractor tax, IR35 and insurance adviser. In 2018, Qdos Contractor, as part of The Qdos Group, was ranked as the private company in the UK with the highest profit margin in The Sunday Times BDO Profit Track 100. In 2017, The Qdos Group received The Queen’s Award for Enterprise in the Innovation category.