AXA backs MGA Gresham Underwriting
French insurer AXA and managed general agency (MGA) Gresham Underwriting (GUL) have entered into a three-year partnership under which AXA will provide £20 million of capacity.
Under the agreement, AXA will provide support on existing GUL product lines in conjunction with the introduction of new AXA-backed products via Gresham’s Instant Quotes broker platform. The first of these new products will be live within three months adding to the 18 products already available on the platform.
“Over the past 12 months, Gresham has introduced new risk assessment and selection methodologies which gives us the confidence they will continue to deliver on their underwriting results and we look forward to working with Gresham to develop these improvements further,” said John Heaney, director of schemes and MGAs at AXA Insurance.
“Both AXA and Gresham have an appetite for growth and we look forward to developing new products and exploring new markets in partnership with the Gresham team,” Heaney added.
Rob Munden, chief underwriting officer at Gresham, said: “This is an exciting time for Gresham as we look to rapidly move the business forward. To have the support of a partner of AXA’s standing helps this process greatly. Having a carrier portfolio of the existing Lloyd’s syndicates alongside company market capacity, provides us with an excellent platform for growth. We are delighted to be partnering with AXA as we move to the next stage of our evolution.”
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