MS Amlin launches new MGA inline with underwriting strategy
A specialist equine managing general agent (MGA) has been launched by global re/insurer MS Amlin.
The creation of the MGA, called David Ashby Underwriting (DAU), follows the buyout of the reinsurer’s book of business and renewal rights for insuring high value thoroughbreds and sport horses by David Ashby.
Ashby, who was formerly managing director and principal underwriter for equine at the reinsurer, will be chief executive officer and chief underwriting officer of DAU, which began underwriting 01 January 2020.
DAU will service MS Amlin’s existing livestock and bloodstock business through a purchase agreement ensuring existing brokers and clients continuity of cover and service. The MGA’s combined equine book, which will be focused on bloodstock, commercial breeding, rearing and racing, and equestrian across both sports performance and leisure horses, is expected to underwrite gross written premium of around £25 million in 2020.
MS Amlin will be lead underwriter for DAU and provide 50 percent of capacity for the MGA through a joint venture with specialist insurer Hiscox. DAU is part of BPB Underwriting Management Ltd, a new MGA management agency, and will receive business support from Asta Underwriting Management (AUM) Ltd.
Tom Clementi, MS Amlin Underwriting Limited CEO, said the launch of DAU was in line with the firm’s new underwriting strategy announced on 30 September. “DAU’s strong book of business will enable MS Amlin to retain its participation in the equine insurance market by underwriting via an MGA. We look forward to continuing our working relationship with David Ashby, who has long established himself as a market-leading equine underwriter, and supporting him in this new venture.”
Ashby said: “I’m excited to lead our specialist bloodstock underwriting business and to have secured the ongoing support of MS Amlin, alongside new capacity provided by Hiscox. The confidence BPB Underwriting Management has shown in our team’s underwriting expertise has ensured that our business is off to a flying start and I’m confident that 2020 will be a great success.”
