Boost for MGA subsidiaries as underwriting agency launches

Specialist MGA management agency, BPB Underwriting Management (BPBUW) has unveiled an underwriting agency that will focus on nurturing individual MGA businesses.

The agency’s business strategy is to build a number of specialist niche MGA subsidiaries. Under the strategy, key underwriters from each business will hold a meaningful equity stake.

The agency’s first MGA to be brought to the market is David Ashby Underwriting, a buy-out of an equine book from MS Amlin, which began underwriting on January 1, 2020. Led by David Ashby, an expert bloodstock and equestrian underwriter, the MGA is a Lloyd’s coverholder with capacity provided by respected Lloyd’s underwriting businesses MS Amlin and Hiscox.

BPBUW said it was focusing on recruiting “only the highest performing underwriters with a first-class track record of profitability and strong market following” and said that it “has an active pipeline of high-quality MGA businesses” with more announcements to come.

Asta Underwriting Management will provide operational services to BPBUW, with broking for the business provided by Marsh.

The executive team includes chairman Jonathan Palmer-Brown, CEO John Holm, COO Margaret Ryan and Executive Director Robin Blunt.

Palmer-Brown said: “It is an exciting time to be building an insurance business focused around high quality underwriting talent with an outstanding track record. As market conditions firm, the opportunities are substantial for underwriters with the right skills, experience and distribution network. BPBUW has a strong pipeline and we are looking forward to seeing other excellent underwriters start up and build their business under the BPBUW umbrella in the coming months.”