Tokio Marine HCC International (TMHCCI), a member of Tokio Marine HCC (TMHCC), has entered into a definitive agreement to acquire Direct Commercial (DCL), a specialist UK commercial motor managing general agent, and its sister company, Direct Commercial Premium Finance.

DCL is headquartered in Chelmsford, Essex, and is one of the UK market’s “fastest-growing” motor fleet underwriters, providing commercial fleet cover for operators across the UK. The acquisition opens TMHCCI to a new line of business in commercial motor.

DCL currently writes over £200m in gross written premium, and provides commercial motor products across fleet, multi-vehicle, and individual risks through a dedicated UK broker network.

Following the acquisition, DCL will continue to operate as a standalone business, preserving its established brand, team, and broker relationships, while benefiting from the scale and financial strength of the wider TMHCC group. For TMHCC, a global specialty insurer with a track record of building capability across complex and technical lines, the addition of UK commercial motor underlines its commitment to growth and diversification across specialty lines.

Thibaud Hervy, chief executive officer of TMHCCI, welcomed the deal.

“DCL brings us a leading specialist capability in UK fleet insurance, supported by strong underwriting discipline, claims capability and broker relationships,” said Hervy. “This acquisition is a natural extension of our specialty strategy and strengthens our ability to support clients and brokers in a technically demanding and fast-growing market. We share a strong client-focused, expertise-led culture. We are delighted to welcome Phil and his team to the TMHCCI family.”

Phil Cunningham, chief executive officer of DCL, said the transaction marked an exciting opportunity.

“DCL has built a highly successful business founded on specialist commercial motor expertise, disciplined underwriting and enduring broker relationships. TMHCCI is the ideal partner to support the next stage of our development, and this transaction represents an exciting opportunity for our people, brokers and clients,” said Cunningham. “By combining DCL’s proven capabilities with TMHCCI’s scale, resources and long-term commitment to specialty insurance, we will be well positioned to accelerate our growth while maintaining the expertise, accessibility and service that have underpinned our success.”