Automotive services organisation Holman has acquired Park Wood Managers, underwriter and insurance provider for commercial trucking fleets. The Park Wood Risk Retention Group (RRG) will be rebranded as Holman Transportation RRG.
Through the acquisition, Holman is able to expand its commercial underwriting and alternative risk services to cover automotive liability insurance to all commercial fleet vehicles including high-hazard, medium-duty, heavy-duty and extra heavy-duty commercial vehicles.
Holman can also now offer an “A-” rated cut-through endorsement to its clients.
Rob Bartholomew, general manager of insurance services at Holman, comments: “The Park Wood Managers team brings to Holman a well-established underwriting operation with an impressive track record of success. This acquisition is poised to be an integral element of our long-term strategy for sustained growth and allows us to leverage Holman’s financial stability to provide comprehensive risk mitigation solutions for fleet operators in this segment of the industry.
“As a result of this acquisition, we’re now positioned to combine our insurance and risk mitigation capabilities with Holman’s fleet management expertise to offer fleet operators an all-inclusive solution for protecting their vehicles, their people and their business while also controlling their total cost of ownership.”
