HSB (UK) have announced its agreement to purchase the scheme administrator of LABC Warranty. The deal, which is subject to regulatory approval, provides LABC Warranty with the support of one of the most experienced and stable insurance groups.

HSB to Acquire LABC Warranty

HSB has had a relationship with LABC Warranty since 2012, providing specialist Machinery Inherent Defects Insurance to LABC Warranty customers. In 2020, HSB extended its relationship further by becoming the primary insurance capacity provider. Based in North America, the HSB Group is a member of the Munich Re Group, one of the top providers of reinsurance, primary insurance and insurance related risk solutions in the world.

The acquisition supports HSB’s UK and Ireland growth ambitions by adding a complementary insurance specialist to its growing business. Stephen Worrall, Managing Director, HSB UK commented: “We’re really excited. This acquisition is a great opportunity for HSB to expand its core insurance business offering into the structural warranty area and enhance our distribution capabilities for our construction products within the construction industry.”

Jacki Goodman, Managing Director of LABC Warranty highlights the benefits to LABC Warranty; “We see the investment of HSB as the next step in the development of LABC Warranty. The secure A++ (Superior) backing, combined with their technical expertise will undoubtedly benefit our customers and help us support them into the future.”

Customers that have any questions about how the deal affects them can find further information here.

Subscribe to our blog for the latest news

Get the latest news from LABC Warranty and the construction structural warranty sector by subscribing to our blog.
Subscribe to receive the latest news

Please Note: Every care was taken to ensure the information in this article was correct at the time of publication. Any written guidance provided does not replace the reader’s professional judgement and any construction project should comply with the relevant Building Regulations or applicable technical standards. However, for the most up to date LABC Warranty technical guidance please refer to your Risk Management Surveyor and the latest version of the LABC Warranty Technical Manual.

Related Articles

Stonebond celebrates Site Recognition Award with LABC Warranty

LABC Warranty joins Chelmsford-based Stonebond in celebrating a Site Recognition Award win for their Ghyllgrove site
Read More

LABC Warranty launches new topics for technical training courses

Four new toolbox talks have been added to our selection of Technical Training courses, available to book now.
Read More

Quality warranty providers offer security beyond insurance

Why quality is paramount in the structural warranty business, and how to pick the best from the rest.
Read More

Have your say

Tell us what you think about this article and its contents by completing the form.