Agile Underwriting Solutions Acquires Specialist MGA First Dive, Expanding Insurance Portfolio for Scuba Diving Industry
Canadian insurance company Agile Underwriting Solutions has made a strategic move by acquiring Owl First Dive (First Dive), a specialist managing general agent (MGA) focused on scuba diving insurance. The acquisition, effective from 24 June 2024, marks Agile’s expansion into the recreational scuba diving industry.
Based in Vancouver, British Columbia, First Dive offers a range of insurance products tailored specifically for individuals, dive charter companies, and resorts within the scuba diving community. With the scuba diving industry experiencing significant growth, there is a rising demand for reliable insurance solutions to mitigate risks in this sector.
Agile’s decision to acquire First Dive aligns with its goal of diversifying its insurance portfolio to meet the evolving needs of various industries. In addition to scuba diving insurance, Agile provides commercial and personal lines offerings for construction, homeowners, hospitality, professional liability, property, RVs, and tenants.
Brett Graham, president of Agile Underwriting Solutions, expressed his excitement about the acquisition, stating, “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.”
The integration of First Dive into Agile’s offerings is expected to enhance the company’s ability to deliver bespoke insurance products that address the unique risks faced by the scuba diving industry. By leveraging First Dive’s expertise and specialized offerings, Agile aims to provide comprehensive coverage options to meet the demands of the rapidly expanding scuba diving market.
This acquisition follows Agile’s previous deal in July 2021 when it acquired digital MGA Exhale Insurance. The undisclosed amount of the acquisition demonstrates Agile’s commitment to strategic growth and expansion within the insurance industry.
Overall, Agile’s acquisition of First Dive signifies a strategic move to strengthen its position in the market and enhance its ability to cater to the specific needs of the scuba diving community. With a focus on innovation and tailored solutions, Agile is poised to become a key player in providing insurance products for the growing recreational scuba diving industry.