Noble Insurance Group Expands with OakNorth-Backed Acquisition

I’m thrilled to sit down with Henry Arundel, Co-founder and Managing Director of Noble Insurance Group, a dynamic player in the specialist insurance market. Since its inception in 2019 through a management buy-in of Noble Marine, the group has built an impressive portfolio of niche insurance brands. Today, we’ll dive into their journey, their recent acquisition of Caravanwise facilitated by a £5 million loan from a leading digital bank, and their ambitious buy-and-build strategy that’s reshaping their corner of the industry. We’ll explore how they’re carving out a unique space in a competitive market and what’s next on their horizon.

Can you walk us through the origins of Noble Insurance Group and what sparked the management buy-in of Noble Marine in 2019?

Absolutely. Noble Insurance Group started with the vision of creating something different in the insurance space. The management buy-in of Noble Marine, a well-respected name in pleasure craft insurance, gave us the perfect foundation. We saw an opportunity to take a specialist approach, focusing on niche markets that larger insurers often overlook. It was about leveraging deep expertise and a personal touch to build trust with customers who needed tailored solutions. That initial step ignited our broader mission to create a family of specialist brands.

What’s the bigger picture behind building a family of brands like CBI, Graham Sykes, New Moon, and WG Yachts?

Our vision is to cover a wide spectrum of specialist insurance needs under one umbrella while keeping each brand’s unique identity intact. Each of these brands targets specific customer segments with distinct requirements, whether it’s everyday coverage or highly specialized policies. What ties them together is our commitment to understanding the intricacies of these markets better than the big, generalist providers. We aim to be the go-to experts, offering bespoke solutions that larger firms can’t replicate due to their one-size-fits-all approach.

Let’s dive into the recent £5 million loan that supported your latest moves. How did this partnership come about, and why was it the right fit for your growth?

The partnership came at a pivotal moment for us as we were looking to accelerate our expansion. We needed a financial partner who understood our buy-and-build model and shared our entrepreneurial mindset. Their team took the time to grasp our strategy and saw the potential in our specialized approach to insurance. Their support was instrumental not just in terms of funding but also in providing confidence to move forward with acquisitions like Caravanwise. It felt like a true alignment of goals.

Speaking of Caravanwise, what made this company such a compelling addition to your portfolio?

Caravanwise stood out because of its stellar reputation in the camping and leisure market. Since 1998, they’ve built a loyal customer base by specializing in insurance for touring caravans, motorhomes, park homes, and even horseboxes—areas that require deep, specific knowledge. Their expertise complements our existing brands perfectly, allowing us to expand our reach into a growing niche. It’s about adding value through specialization, and Caravanwise fits right into that ethos.

With twelve acquisitions under your belt, can you share the thinking behind your buy-and-build strategy?

Our strategy is all about growth through synergy. We look for specialist brokers that align with our focus on niche markets and share our values of customer-centric service. Each acquisition is a chance to broaden our expertise and strengthen our platform. The challenge lies in integrating these businesses smoothly—ensuring their unique strengths are preserved while streamlining operations under our group. It’s a balancing act, but when done right, it creates a stronger, more diverse network that benefits both our partners and policyholders.

Beyond the Caravanwise deal, how do you plan to leverage this funding to fuel your broader ambitions?

The funding gives us the flexibility to keep pushing forward with our growth plans. While Caravanwise is a key piece of the puzzle, we’re always on the lookout for other complementary acquisitions that can enhance our portfolio. Additionally, the capital allows us to invest in operational improvements and technology to better serve our customers. It’s about accelerating our timeline—turning long-term goals into near-term achievements and solidifying our position in the specialist insurance space.

You’ve spoken about delivering value to insurer partners and policyholders. Can you unpack what that looks like in practice?

For us, delivering value starts with transparency and trust. With insurer partners, it means fostering strong, collaborative relationships where we’re aligned on goals and outcomes. We work closely to develop products that truly meet market needs. For policyholders, it’s about going beyond just selling a policy—it’s ensuring they feel understood and supported, whether they’re insuring a caravan or a yacht. We prioritize personalized service and quick, fair claims processes to make sure they know they’re in good hands.

Looking ahead, there’s optimism about growth in the insurance agent and broker market over the next five years. What’s your take on the trends driving this potential?

I share that optimism. One major trend is the increasing demand for specialized insurance as customers seek coverage that’s tailored to their unique needs—something generalist providers struggle to offer. Digital transformation is also playing a big role, making it easier for brokers like us to reach and serve clients efficiently. Additionally, economic and lifestyle shifts, like the rise in leisure activities post-pandemic, are boosting demand in niches like camping and boating. We’re positioning ourselves to capitalize on these trends by staying agile and continuing to focus on underserved markets.

What’s your forecast for the specialist insurance market in the coming years, and how do you see Noble Insurance Group evolving within it?

I believe the specialist insurance market will continue to grow as consumers and businesses prioritize customized solutions over generic offerings. There’s a real opportunity for firms that can combine deep expertise with innovative delivery. For Noble Insurance Group, our focus will be on expanding our family of brands while staying true to our roots in specialization. We aim to be the leader in niche insurance, leveraging both organic growth and strategic acquisitions. I’m excited to see us deepen our impact, building stronger connections with customers and partners as this market evolves.

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