Paragon International Insurance Brokers, which is a subsidiary of PSC Insurance Group and focuses on professional and financial lines, has acquired UK independent broker Cox Mahon. Magon specialises in professional indemnity for solicitors and property professionals and operates from its Shrewsbury and London locations. It was founded in 1996 and has a team of 14 staff.

Cox Mahon founders Richard Amphlett and Andrew Kenyon will continue to lead the business and Paragon co-CEO James Kalbassi, and COO Bradleigh Barker will join the Cox Mahon board.

Kalbassi said: “Paragon’s combination with Cox Mahon will greatly add to the expertise and resources within our UK business and will enhance our position in the UK professions professional indemnity sector.”

Amphlett added: “As a specialist insurance broker, a key element of our long-term strategic plan was to find a partner to help propel the development of Cox Mahon through enhanced products, services and resources, along with broader and deeper market access. These are key elements to help us to deliver optimum solutions to our existing clients, as well as providing us with the platform to develop new client relationships.”