Leading independent international insurance and reinsurance broker, Tysers announces today (8 Jul 2013) that it has acquired a majority stake in specialist construction broker, MLW & Associates Ltd (MLW).

The acquisition is being made through its holding company, Hawkes Bay Holdings Ltd. MLW arranges specialist US construction liability insurance, placed predominantly in the Lloyd’s market, but also in other London, European and Bermudian markets.

The Group has an option to acquire the balance of the business between 2016 and 2018. Mark Watson, Managing Director of MLW and his colleagues will be joining Tysers with immediate effect.

Commenting on the deal, Mark Watson said: “I am delighted to be joining Tysers. With its additional resources and great reputation in the London market, we will be able to continue to grow the business that I established some three years ago.”

Chris Elliott, CEO of Tysers, remarked:

I am thrilled that Tysers has been able to seize this opportunity to be involved in further developing the business that Mark established. Mark has a strong reputation in his specialist field of construction excess liability insurance and we see huge opportunities for him to continue his strong growth within Tysers.

This acquisition provides fresh impetus to our expansion into quality niche business lines, within the London market, which we are striving to build.