London MGA Aqueous Underwriting has secured a 70% boost in capacity following the signing of an initial three-year deal with Allianz.
According to the announcement, the new binder agreement will be active for all broker submissions from 1st April.
The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it specialises in providing professional indemnity (PI) and package coverage to SMEs in the food, hospitality, leisure and hotel sectors.
Helen Bryant, Director of Digital Trading, Allianz Commercial commented: “Aqueous is a leading light in the SME insurance market, with its combination of inhouse technical knowledge, market relationships and agile approach to product development having already proved itself as a winning formula for brokers.
“We are excited to be providing capacity to the team at Aqueous as we look forward to growing in this market together.”
Aqueous describes its partnership with Allianz as a significant milestone in the company’s development. It also comes with the added benefit of access to Allianz’s award winning and service-focused claims service which has received an “Outstanding” Service Quality Marque from Gracechurch.
Tom Hill, Head of E-Trade, Aqueous Underwriting said: “We are delighted to have been able to secure the support of Allianz – a powerhouse in the insurance market – a new partnership that marks a major, and important step on our journey.
“Our mission has always been to develop long term relationships with sustainable partners and this deal with such a prominent, stable, well-respected, and recognisable brand provides us with clear differentiation in our chosen market.”
