NSM UK Holdings

What NSM UK Holdings does

B3 Insurance Limited (formerly NSM UK Holdings) is a UK-based specialist insurance holding company headquartered at Level 15, The Gherkin, 30 St Mary Axe, London. It operates as a wholly-owned subsidiary of Ignyte Insurance, a global specialist insurance provider, and groups three operating businesses: First Underwriting, a specialist Managing General Agent (MGA) providing niche and commercial products to brokers; Kingfisher Insurance, a specialist broker with a portfolio spanning personal and commercial lines (including Kingfisher Private Client for high-value assets and Peter James Insurance); and Kingsbridge, which delivers insurance and IR35 services to contractors, tradespeople, and small business owners.

The group distributes primarily through insurance broker relationships, supplemented by direct broker operations and direct-to-consumer channels in personal and contractor lines. It employs 121+ people globally and claims 16+ years of industry leadership, with managed premium referenced in marketing materials (though revenue is not publicly disclosed). Underwriting and brokerage workflows are supported by an internal technology platform spanning multiple specialty lines, but no proprietary AI/ML capabilities, patents, or external technology integrations are disclosed in available source material.

The business model is a combination of commission-based brokerage revenue (Kingfisher, Kingsbridge), MGA-style premium and fee income on broker-originated business (First Underwriting), and ancillary service income such as IR35 compliance support. Pricing is quote-based and tied to individual risk profiles rather than standardized rate cards. No funding rounds, key management bios, or regulatory actions beyond a 2026 Claims Excellence Awards shortlisting are disclosed in the source data.

Name

NSM UK Holdings

Legal name

B3 Insurance Limited

Website

https://nsmgroup.com

Company type

Private

Operating status

Operating

Headcount range

251–500 employees

Short description

B3 Insurance (formerly NSM UK Holdings) is a UK specialist insurance holding company, wholly owned by Ignyte Insurance. Through First Underwriting (MGA), Kingfisher Insurance (broker), and Kingsbridge (contractor and IR35 services), it distributes niche, commercial, and personal insurance lines via brokers and direct channels to UK contractors, small businesses, and high-net-worth individuals.

Ownership category

akta.pro rank

Product category

Specialist Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Specialist insurance
• Commercial insurance
• Insurance brokerage
• Managing general agent
• Contractor insurance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Premium Revenue: Generates revenue through insurance premium collection across specialty and commercial lines, managed premium through MGA and broker operations

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

NSM UK Holdings (now operating as B3 Insurance) is a specialist insurance holding company that owns and operates three core subsidiaries: First Underwriting (a Managing General Agent offering niche and commercial insurance products to brokers), Kingfisher Insurance (a broker with personal and commercial lines), and Kingsbridge Insurance (a provider of insurance and IR35 services for contractors, tradespeople, and small business owners). The group distributes insurance products primarily through a network of intermediary brokers and MGA relationships, backed by global parent Ignyte Insurance.

Differentiator

Problem solved

Functional benefit

Products and services

• B3 Insurance

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Canford Classic & Supercar SundayminorGTM or Marketing Partner · 1 January 2026Kingfisher Private Client continues as Official Insurance Partner for Canford Classic and Supercar Sunday 2026 for the second consecutive year. This event sponsorship provides brand visibility to high-net-worth vehicle owners and automotive enthusiasts.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Aston Lark: UK specialist insurance broker group (now part of Howden) operating a comparable multi-brand model across commercial, personal, and specialty lines. Highly analogous to B3 Insurance's Kingfisher/Kingsbridge/First Underwriting structure.
• CFC Underwriting: London-based specialist MGA focused on niche commercial lines distributed through brokers. Most directly comparable to B3 Insurance's First Underwriting MGA, with similar underwriting-led, broker-distributed specialty insurance model.
• PIB Group: UK specialist insurance broker consolidator with a multi-brand, multi-product strategy very similar to B3 Insurance. Both groups pursue organic growth plus tuck-in M&A of niche brokers and MGAs to build scale in fragmented UK specialty lines.
• Jensten Group: UK insurance broker consolidator building scale through acquisitions of regional broker and MGA businesses. Comparable to B3 Insurance in headcount range and in the use of M&A as a core growth lever.

Broad incumbents

• Howden Group Holdings: Global specialty insurance broker with deep UK presence following the Aston Lark acquisition. Operates a similar multi-brand specialist broker strategy but at materially greater scale than B3 Insurance.
• Marsh McLennan (Marsh): Global insurance broker and risk advisor with substantial UK specialty operations. Comparable to B3 Insurance as a broker-of-record for specialty and commercial risks, though operating at a vastly larger scale.
• Ardonagh Group: Major UK-headquartered insurance broker group with broad specialty and personal lines offerings. Provides a scaled comparator for B3 Insurance's multi-channel broker strategy, though much larger and more diversified.
• Aon plc: Global insurance and reinsurance broker with significant UK specialty and personal lines presence. Comparable to B3 Insurance's broker-distributed specialist model, though at enterprise scale.
• Beazley plc: London-listed specialty insurer with strong Lloyd's franchise covering marine, cyber, and professional lines. Comparable to B3 Insurance's specialty/MGA positioning from a market-positioning standpoint, though at much greater scale and as a carrier.
• Hiscox Group: London-listed specialty insurer underwriting niche commercial and high-net-worth personal lines. Comparable to B3 Insurance's specialty lines focus but operates as a carrier rather than an MGA/broker platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nsm-uk-group

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NSM UK Holdings