Managing general agent Uris Group Limited has acquired Lutine Assurance Services from Ardonagh Group. Lutine offers key person, partnership and shareholder cover to SME and corporate clients alongside its group life proposition. It works through intermediaries as a Lloyd’s coverholder.

Under the agreement, UGL acquires a book of business with a gross written premium of approximately £5.5m, with capacity provided by Beazley and Axa XL. It will also take on the existing team of eight which will continue to operate under the Lutine brand.

Derek Coles, chief executive officer of UGL, said: “Lutine is a highly respected specialist in business protection, with deep technical expertise, historic and ongoing relationships with its capacity providers, and strong broker relationships.

“Bringing the business into UGL gives us another quality MGA operation, more diversification and more bandwidth to grow in a market we know is only going to become more important.”