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August Equity backs Starpeak for growth and management buyout
Starpeak serves more than 175,000 UK customers annually and has sustained annual growth of more than 25%, according to the company.
UK private equity firm August Equity has invested in technology-enabled managing general agent Starpeak Insurance Solutions to support a management buyout and the firm’s next phase of growth, Coverager reports.
Starpeak, founded in 1991 and headquartered in Stokenchurch, Oxfordshire, operates niche insurance brands including Protectivity and SportsCover Direct, serving more than 175,000 UK customers annually and maintaining annual growth of more than 25%.
The company said the deal will fund further development of its proprietary iTraps platform, which is designed to enable rapid product launches, largely automated underwriting, and direct-to-consumer distribution.
Starpeak also plans to explore acquisitions, while leadership changes include founder Julian Hucks stepping into an ambassador role, Andy Brownsell becoming CEO and Andy Pilgrim taking the CTO role, and former BGL Group CEO Peter Thompson joining as chair, the outlet added.
Starpeak renewed its binder with AXA XL’s UK and Lloyd’s business for a tenth year in 2025, Coverager said.