1 August 2017Insurance

Towergate launches London specialty MGA with Dual hire

UK-based insurance intermediary Towergate, part of the newly-formed Ardonagh Group, has launched Geo Specialty, a London MGA (managing general agent) business with a new team of market specialists.

Towergate Underwriting CEO Paul Dilley said the new business was a fundamental part of their strategy to become a key player in the specialty market.

Political violence, which is the first market to go live, will be led by senior underwriter Marcus Meredith, who has joined Towergate from Dual International.

"We have been talking to the market about our intentions for some time and I’m delighted that we’re now in a position to launch the first element of Geo Specialty," Dilley commented. "With political violence, we have created a market-leading, bespoke terrorism product for both private and commercial clients, backed by Lloyd’s of London capacity. It provides choice in an ever more uncertain world, and gives far more comprehensive coverage than the Pool Re offering."

He added: "This is our first step towards building a strong London Underwriting business. We are identifying markets where we can really add value and make a difference through our underwriting expertise and products."

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