Munich Re Specialty, part of the Munich Re Group insurance operations, has completed the sale of boat insurance specialist GJW Direct to Ripe.

The deal, first announced in October 2024, marks the transfer of GJW Direct after more than 20 years as part of Munich Re Specialty. The decision to sell the business was driven by a review of Munich Re Specialty’s strategic goals and its plans for the next stage of growth.

Danielle Champion, Managing Director of Munich Re Specialty – Global Markets, UK, said, “GJW Direct has been a valued part of Munich Re Specialty for over two decades. This is a great next step for the brand, and we wish Ripe every success as they move forward in driving the future growth of GJW Direct. I’d like to thank the customers of GJW Direct for their trust and continuous support during Munich Re Specialty’s ownership of this prestigious brand.

“Munich Re Specialty’s decision to sell GJW Direct was driven by a reflection on our strategic goals and plans for the next stage of our own growth. Our Specialty strategy in the UK regional market will continue to advance in the coming years and we are excited to progress our offering of specialty solutions for today’s dynamic challenges.”

Founded in 1826, GJW Direct is a non-commercial marine insurance provider offering comprehensive cover for a wide range of boats.

Under Ripe’s ownership, GJW Direct will benefit from enhanced technology and marketing capabilities. Its products have been rebuilt on Ripe’s proprietary technology platform, Juice, which uses data and technology to deliver an enhanced customer experience.

Together with Ripe’s existing products in this space—Insure4Boats and the previously acquired Craftinsure—this acquisition increases Ripe’s market share in boat insurance, positioning the firm at the forefront of the UK marine insurance industry.

Alan Thomas, CEO of Ripe, commented, “The acquisition of GJW Direct represents a transformative moment for Ripe’s growth strategy. By integrating this prestigious brand with over 190 years of heritage into our portfolio, we’re not just expanding our market presence—we’re combining historical expertise with modern technology. Our proprietary platform will enhance the customer experience for GJW Direct policyholders while preserving the brand’s trusted reputation. We are thrilled to welcome GJW Direct policyholders to Ripe.

“This acquisition solidifies our position as a leading specialist in the UK marine insurance market and demonstrates how our technology-focused approach can drive growth for established insurance businesses. We’re actively pursuing further opportunities with like-minded specialist and SME propositions and expect our M&A pipeline to continue to deliver.”