Seventeen Group Acquires Lloyd’s Broker Dashwood Brewer & Phipps to Scale London Market Reach

Seventeen Group has acquired Dashwood Brewer & Phipps Ltd, a long-standing independent Lloyd’s broker, in a move that significantly expands the Group’s London market capabilities. For insurance professionals, this transaction creates a new Lloyd’s-focused pillar within the Group, offering enhanced international distribution and specialist placement opportunities while maintaining the independence of a century-old brokerage.

What was announced

The acquisition of Dashwood Brewer & Phipps (DB&P) serves as a strategic transformation for Seventeen Group, establishing a dedicated Lloyd’s and London market presence. Founded in 1919, DB&P brings over 100 years of history and more than five decades of experience operating within the Lloyd’s market. Under the terms of the deal, DB&P will retain its existing brand and regulated status, functioning as the Lloyd’s pillar for the Group. It will operate alongside Seventeen Group’s other primary businesses, James Hallam and Touchstone Underwriting.

The integration is designed to preserve DB&P’s heritage while creating a platform for collaboration across the wider Group. This includes the development of new facilities, expansion into different territories, and increased inter-group placement opportunities. The leadership team at DB&P will remain in place to drive the business, with Louis Belcourt appointed as Managing Director. Belcourt will also take a seat on Seventeen Group’s Executive Committee. The deal aims to provide a foundation for continued investment in technology and talent, strengthening the Group’s resilience and its ability to access both UK and international markets for its clients. The acquisition also ensures that DB&P can continue to trade with partners without the conflicts of interest often associated with international ownership structures.

"Dashwood has an outstanding reputation and a remarkable history spanning more than a century. This is an exciting milestone in our Group’s evolution, establishing significant London market capability as a foundation to grow our UK and international presence. This acquisition brings together two family-owned independent businesses with remarkably similar legacies and cultures. The Dashwood team have built a deeply impressive business, and I’m delighted to welcome them to our Group. In Louis, we have an ambitious and entrepreneurial leader. Together we have a bold vision for Seventeen Group’s place in the Lloyds market as a proudly independent broker."

Oliver Thorne, Chief Executive Officer, Seventeen Group

The companies involved

Seventeen Group is a privately owned insurance group that operates across several sectors of the industry, including retail broking and underwriting. The addition of Dashwood Brewer & Phipps Ltd adds a specialized wholesale and Lloyd’s dimension to its portfolio, which already includes the broker James Hallam and the MGA Touchstone Underwriting. The group, led by Chairman Paul Turner and CEO Oliver Thorne, focuses on maintaining an independent status in an increasingly consolidated UK market.

Dashwood Brewer & Phipps Ltd, based in London, is one of the UK’s oldest independent Lloyd’s brokers. Since its founding in 1919, the firm has built a reputation for specialist expertise and a client-first culture. Its operations are centered around the Lloyd’s market, where it has held a presence for over 50 years. The firm emphasizes its role as an independent partner for international and domestic clients, a position it intends to maintain following the acquisition. The company’s leadership includes Chairman Nicholas Belcourt and Managing Director Louis Belcourt, both of whom will continue to influence the direction of the business within the Seventeen Group structure.

What this means from an insurtech perspective

This acquisition highlights the enduring value of "independent" status in the London market, even as mid-tier brokers seek the scale necessary to compete with global giants. For the insurtech sector, the focus on "investment in technology and innovation" within a century-old broker suggests a growing pressure on legacy Lloyd's participants to modernize their placement processes. By separating retail and wholesale propositions through the DB&P brand, Seventeen Group is positioning itself to manage potential conflicts of interest—a critical factor for MGAs and international partners. The move puts pressure on other independent brokers to either consolidate or accelerate their own digital transformation to maintain market relevance and improve loss ratios through better data utilization.