BPB UW Management Ltd (BPBUW) has launched an underwriting agency focused on supporting individual managing general agent (MGA) businesses.
The agency will be led by Chairman Jonathan Palmer-Brown, CEO John Holm, Chief Operating Officer (COO) Margaret Ryan and Executive Director Robin Blunt.
BPBUW said that it hopes to build out a number of specialist niche MGA subsidiaries, with the key underwriters in each holding an equity stake in their own MGA business.
Asta Underwriting Management Ltd will provide operational services to BPBUW, with broking for the business provided by Marsh.
David Ashby Underwriting Ltd, a buy-out of an equine book from MS Amlin, marks the first MGA that BPBUW has brought to the market, having started underwriting on 1 January 2020.
Led by bloodstock and equestrian underwriter David Ashby, the business is a Lloyd’s coverholder with capacity provided by MS Amlin and Hiscox.
“It is an exciting time to be building an insurance business focused around high quality underwriting talent with an outstanding track record,” said Jonathan Palmer-Brown. “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,” Palmer-Brown continued.
“We are proud to be supporting David Ashby Underwriting Ltd as our first MGA, David has an excellent business and I am confident that he will be successful right from the start.”