Canadian insurance company Agile Underwriting Solutions has announced the acquisition of Owl First Dive (First Dive) for an undisclosed sum.
The acquired company is a specialist MGA with a focus on scuba diving insurance.
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The acquisition, which is effective from 24 June 2024, expands Agile’s insurance portfolio to better meet the needs of the scuba diving community.
First Dive, based in Vancouver, British Columbia, provides a variety of insurance products tailored specifically for the recreational scuba diving industry.
It offers coverage options for individuals, dive charter companies and resorts.
Agile said there is a significant uptick in the scuba diving industry, with more individuals and businesses seeking dependable insurance solutions.
The integration of First Dive into Agile’s offerings is expected to meet this demand, delivering bespoke insurance products to mitigate the unique risks faced by the sector.
Agile’s portfolio of commercial and personal lines offerings also caters to construction, homeowners, hospitality, professional liability, property, RVs and tenants.
Agile president Brett Graham said: “I am thrilled to welcome First Dive to the Agile family. This acquisition supports Agile’s ongoing dedication to build scale and strengthen the managing general agent model to provide truly tailored, innovative and competitive insurance solutions to North America.
“We look forward to working with their passionate team of employees to meet the demands of this rapidly expanding industry.”
This acquisition follows Agile’s previous deal in July 2021, when it acquired digital MGA Exhale Insurance for an undisclosed amount.
