Protect is an MGA whose principal division (Private Client and Fine Art) underwrites insurance risks for the likes of High Net Worth Individuals, galleries, museums, dealers and exhibitions in relation to their fine art and jewellery collections. It also underwrites risks in the Cargo and Political Violence markets.
Backed by Goldman Sachs since 2022, Shape Underwriting is a highly acquisitive diversified insurance business. The acquisition of Protect is complementary to Shape Underwriting’s growing MGA activities.
Using our in-depth sector experience and knowledge, we advised the Protect members on the offer received from Shape Underwriting and led the process through to completion, including leading negotiations and process management throughout the deal process.
Grant Thornton advised on deal structuring, including rollover mechanics and secured an attractive earn-out for our client.
