According to the announcement, at the heart of this client-focused MGA is flexible and alternative solutions. It will provide all line services across all territories and is backed by rated securities, with more securities currently being added to the panel of reinsurers.
Specialty MGA UK has said that it will offer new and meaningful capacity to the market with vast expertise in underwriting, providing brokers and their clients with immediate decisions and instant answers.
It is focusing on lines of business which include but are not limited to property, construction, energy, marine, construction, aviation, financial lines, accident & health and surety.
Philippe Bara, Specialty MGA UK’s Class Underwriter for Energy, commented: “Specialty MGA UK will provide brokers and their clients with answers straight away. Our extensive experience as senior underwriters in the industry and deep understanding of our clients’ industry sectors allows us to respond to any requests or claims immediately without delay, providing clients with rapid underwriting decisions which cannot be matched elsewhere.
“We deliver real value to our clients through finding unique solutions to their requirements, providing flexible services and covers to sufficiently meet their ever-changing needs.”
Philippe Bara, Class Underwriter for Energy, has left broking to return to his previous expertise in underwriting and head the Specialty MGA UK team.
Bara has previously worked for Partner Re as a Senior Underwriter and brings with him 30 years of experience in the energy market including windfarms, geothermal, offshore energy, power cables and shale gas and oil, in both Paris and London.
He is joined by Mark Palmer, Senior Underwriter for International Property, who has almost 40 years of experience working in the insurance and reinsurance industry.
Throughout his extensive career, Palmer has written for both Lloyds of London syndicates and London based companies. His underwriting experience covers most trades, occupations and territories with a focus on Central and South America in the last ten years, overseeing property referrals worldwide.
Palmer commented: “Based in Central London and a short distance from Lloyd’s market, we are very keen to meet clients in-person to enhance our relationships and discuss their specific needs and requirements.
“As a new and forward-thinking MGA, we will do everything to make brokers’ lives easier through providing their clients with speedy, concise and predictable services that will significantly reduce their cost of risk.”