Aqueous Underwriting, the London-based MGA, has secured main new capability in a three-year take care of A+ rated insurers Allied World and Sompo. The transfer to a syndicated capability association offers the MGA with the chance to considerably develop and improve its product suite because it enters its subsequent part of progress.
Following a mutual settlement reflecting differing strategic goals, Aqueous mentioned it would transition from Allianz to the brand new capability suppliers over the rest of 2024 and continues to companion with Allianz on different product traces.
The syndicated binder settlement with Allied World and Sompo is energetic for all SME package deal new enterprise submissions with speedy impact.
Aqueous specializes within the skilled indemnity and SME package deal (meals, hospitality, leisure, and lodge) sectors. The MGA mentioned the brand new association will allow it to construct on its popularity for responding rapidly to altering buyer wants.
Aqueous can also be launching an extension to its pubs, eating places and bars product to deal with the numerous enhance in dine & sprint losses. The brand new protection extension can be accessible from January.
“Allied World is dedicated to the SME market within the UK and partnering with Aqueous is a pure match,” commented Emma Lisi, senior vice chairman, head of UK Industrial Division, Allied World. “We sit up for leveraging our technical data, and market relationships to ship insurance coverage options for brokers.”
“We’re delighted to be partnering with the group at Aqueous, a transfer which inserts in with our ongoing technique to develop additional our UK industrial footprint and assist the wants of our rising SME buyer base outdoors the London market,” based on Joe Brown, head of UK Center Market & SME, Industrial P&C Insurance coverage, Sompo.
“We’re delighted to be working with Allied World and Sompo on a syndicated placement foundation, enabling us to pursue our strategic goal of considerably enhancing our current product suite and creating new merchandise, while not being reliant on any single market,” mentioned Tom Hill, head of E-Commerce, Aqueous Underwriting. “Subsequent 12 months can be an thrilling one for us all at Aqueous as we speed up our progress within the SME market.”
Supply: Aqueous Underwriting
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