UK-based insurtech Ripe has completed the acquisition of marine insurance provider GJW Direct from Munich Re Specialty. The financial terms of the agreement, originally announced in October 2024, have not been disclosed.
Founded in 1826, GJW Direct offers non-commercial boat insurance across various types of vessels. Its products are now integrated into Ripe’s proprietary technology platform, Juice.
The acquisition expands Ripe’s presence in the marine insurance sector. GJW Direct joins Ripe’s existing boat insurance brands, including Insure4Boats and Craftinsure, the latter acquired in 2023.
Ripe CEO Alan Thomas stated that the company’s platform will improve the experience for GJW Direct customers while maintaining the brand’s established reputation.
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.
Alan Thomas, Ripe CEO
“We’re a trailblazing insurtech business with a fresh approach. Our grasp of data, analytics and pricing means we can use our unique technology, underwriting MGAs and know-how to make it hard for existing players to compete with us when we enter a new market”.
Our plan will see us break into and disrupt many more markets and specialists on our journey to become the leading specialist digital insurance provider in the UK. And as we grow in the UK we are also going to be looking at how we can take our fresh approach to other territories around the world.
Danielle Champion, managing director of global markets UK at Munich Re Specialty, described GJW Direct as a long-standing part of the business and acknowledged the decision to sell as part of a shift in Munich Re Specialty’s strategic priorities.
She thanked GJW Direct customers for their continued support and said the company remains committed to expanding its specialty insurance offering in the UK regional market.
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.
Danielle Champion, Munich Re Specialty – global markets UK managing director
“I would like to thank the customers of GJW Direct for their trust and continuous support during Munich Re Specialty’s ownership of this prestigious brand,” Danielle Champion said.
“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.”
Ripe believes its technology and marketing capabilities will support further expansion of the GJW Direct brand.
