Bridgehaven Insurance, the hybrid fronting insurer, and Avid Insurance, an accomplished Managing General Agent (MGA), have announced a strategic partnership.
This collaboration aims to provide innovative property excess of loss insurance solutions tailored for registered providers of social housing, the company noted.
The partnership capitalises on Bridgehaven’s unique ability to forge exclusive collaborations between MGAs and reinsurers and Avid Insurance’s extensive experience in delivering tailored insurance solutions for social housing providers in the UK.
By combining forces, the two entities have successfully addressed the pressing need for increased capacity to meet higher property limits of insureds through a distinctive property excess of loss product.
Paul Jewell, Chief Executive Officer of Bridgehaven Insurance, expressed the significance of the partnership, stating, “This partnership between Bridgehaven and Avid Insurance marks a significant milestone for both companies. Avid is a professional and highly experienced MGA, and we are pleased to support their ambitions. Together, we are set to revolutionize the way that risks are assessed and underwritten through our collaborative hybrid fronting model.”
Stephen Gibson of Avid Insurance echoed the sentiment, saying, “We pride ourselves on producing bespoke, quality insurance solutions for our clients, and this alliance with Bridgehaven is a key development in helping us to deliver a broader product offering to clients in need of higher property limits.”
Bridgehaven Insurance, launched in July 2023 as the UK’s first risk-taking fronting insurer in commercial and specialty lines, envisions creating a robust insurance chain by fostering collaboration among MGAs, insurers, and reinsurers.
The company seeks to establish exclusive partnerships, align mutual interests, and promote transparency in data sharing to accelerate MGA innovation. This approach prioritises long-term performance and aims to create a more cohesive, confident, and efficient insurance ecosystem.
