MGAs/MGUs

International CUO Kyle Bryant declined to specify when the company would be up and running but said it was in advanced discussions and “quite confident” of landing a deal soon.

Over the cycle, the MGA model has proved to be more resilient than initially expected by the market and its observers.

The placement is the first delegated underwriting authority consortium as well as the first consortium supporting SIAB.

Increased capacity has been secured for the three underwriting teams, K2 Financial, K2 Property D&F and K2 Cat.

In his new role at the specialist D&O MGA, Densham will report to Banyan founder and CEO Tim Usher-Jones.

It is understood that Ascent is currently in negotiations with a number of new potential lead markets.

BP Marsh has had a return on equity eight times higher than when it first invested in Walsingham Motor Insurance Limited.

The contingency book was skewed towards prize indemnity and over redemption, representing less than 1% of CFC’s business.

Under the deal, Tierra will be able to focus on underwriting activities for Argo Syndicate 1200 and Ascot 1414, while Pro oversees operational services.

Sources said there are already four cells in line to join the platform in early 2022.

MX Underwriting will at first operate on top of SRG’s existing brands before merging into one brand by the end of 2022.

Spring Partners said the new underwriting capacity and product launch were part of its London market growth plans.