Start-ups
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The move follows work to create a capacity rental venture with members’ agent Argenta. -
The marine expert has worked for Axa XL and Catlin for most of his career.
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The hard market has not burst the MGA bubble – and now interest is on the rise again.
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The Altamont-backed broking start-up continues to build out its staff.
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A thriving competitive intermediary market is what keeps London fresh.
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High cash-burn, the dearth of available leaders, and weaker market conditions all point to shelving.
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Its first UK MGA partner signing is expected by the end of this quarter.
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The firm launched late last year in the US with a $250mn capital injection, and has also acquired a UK platform.
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Lloyd’s gains leadership, and The Fidelis Partnership gets capital diversification.
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The syndicate will be Asta managed and have capacity from Hampden Names.
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Sources said the initiative includes former Ambridge executive MD Jeff Doran.
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The assessment notes the start-up's “very strong” balance sheet.
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