Transactional liability
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The transactional liability-focused MGA's Lloyd’s line is up from £37.5mn to £40mn. -
Andrew Johnson, Edwina Charlton and Rupert Newman join from Paragon.
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The MGA will be trying to replace the transactional liability capacity in the coming weeks.
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Last month, Acquinex’s 20+ transactional risk team resigned for roles at Dual.
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Last month, MGA Acquinex’s 20+ transactional risk team resigned for roles at Howden-owned MGA Dual.
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The transactional liability class faces a string of potential losses, especially in the contingent segment.
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The traditional R&W product is seeing an increasing number of large losses.
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This follows the exit of Mosaic’s head of international tax earlier this month.
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The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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Gay has spent more than two years at Mosaic, having joined in November 2022.
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CEO McManus vows broker “will not be silent” over “unlawful” competitor behaviour.
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