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Coverys’ European MGA expansion continues with launch of Barcelona base

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The business will write casualty lines including PI, D&O, medmal and cyber.

Coverys European Holdings, the specialty MGA investor and underwriting vehicle, has expanded its AEC underwriting agency with the launch of AEC Europe based in Barcelona.

AEC Europe will write a number of lines including professional indemnity, D&O, medical malpractice and cyber. The unit draws its capacity from a panel of (re)insurers and Lloyd’s syndicates.

Ana De Oliveria, who joined Coverys as a consultant in July 2019, will lead the European business as branch manager. Previously, she led the Iberian team as a senior underwriter for professional lines at ANV in Barcelona.

The launch marks the next phase in the expansion of Coverys’ European MGA network, coming after the launches and acquisitions of a number of casualty underwriting offices, including in Italy and the UK as well as the purchase of Joseph G Brady in Ireland.

It set up its European platform in January 2020.

Coverys European Holdings CUO Doug Robare said: “We are delighted to expand our European network yet again, and embrace the clear opportunity to present a real, dynamic challenge to the status quo.”

Robare explained that the combination of technology and the local team’s expertise will help establish AEC Europe across the continent as a casualty insurer.

He added: “Under Ana’s expert leadership, we have built a team of skilled underwriters who have identified gaps in their chosen markets. They will exploit those opportunities with their substantial expertise, underpinned by supportive capital and cutting-edge technology.”

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