OneAdvent secures financial lines capacity from global reinsurer

Barbadian managing general agent platform  OneAdvent has negotiated with a leading reinsurer to provide a Delegated Underwriting Authority (DUA) to the company’s Financial Lines MGA to write Financial Institutes and Commercial D&O on a facultative reinsurance basis.

According to OneAdvent, the new capability will supplement the existing facilities of its financial lines MGA. It will primarily be deployed to write for SMEs and mid-market-sized companies.

The partnership with Barbados-based Active Re will be “integral to the building out of our financial lines proposition,” said OneAdvent head of financial lines Roberto Murru (pictured).

“In the hardest market we have witnessed in over 35 years, we know there is lots of opportunity out there and this increased capacity, thanks to Active Re, will enable us to take advantage of that,” he added.

“As we venture into the financial lines space, the experience and capabilities of the OneAdvent underwriting team will be key to our success. We are delighted to be working with them as they continue on their upward trajectory,” added Active Re deputy COO Robert Blair Ali.

OneAdvent launched its specialist Financial Lines MGA in August 2019, which also launched on the Whitespace trading platform at the end of 2020.

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