Tokio Marine HCC International has agreed to acquire Direct Commercial Limited, a UK commercial motor managing general agent, in a deal that also includes its sister company, Direct Commercial Premium Finance Limited. Financial terms were not disclosed.

Chelmsford-based DCL has more than two decades’ experience in fleet insurance underwriting, administration and claims. It writes more than £200m in gross written premium and insures one in nine commercial trucks on UK roads, providing fleet, multi-vehicle and individual cover through a UK broker network.

DCL will continue to operate as a standalone business under its existing brand and with its current team and broker relationships. The acquisition will also give TMHCCI a presence in the UK commercial motor market, adding a new business line to its specialty insurance portfolio.

Thibaud Hervy, CEO, TMHCCI, said: “DCL brings us a leading specialist capability in UK fleet insurance, supported by strong underwriting discipline, claims capability and broker relationships. This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers in a technically demanding and fast-growing market. We share a strong client-focused, expertise-led culture."

Phil Cunningham, CEO, DCL, said: “DCL has built a highly successful business founded on specialist commercial motor expertise, disciplined underwriting and enduring broker relationships. TMHCCI is the ideal partner to support the next stage of our development, and this transaction represents an exciting opportunity for our people, brokers and clients. By combining DCL’s proven capabilities with TMHCCI’s scale, resources and long-term commitment to specialty insurance, we will be well positioned to accelerate our growth while maintaining the expertise, accessibility and service that have underpinned our success.”

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