Bridgehaven Insurance, the pioneering hybrid fronting insurer in the UK, has strategically partnered with Alchemy Underwriting, a newly established Managing General Agent (MGA) founded in late 2022.
The two entities are thrilled to announce a strategic partnership aimed at delivering a diverse range of professional indemnity insurance solutions.
The synergy between Bridgehaven’s unique capability to facilitate exclusive partnerships among MGAs and reinsurers and Alchemy’s proficiency in crafting customised professional risks insurance solutions in the UK is expected to bring about innovative and comprehensive offerings.
Together, they have successfully aligned substantial capacity to address the needs of insureds through both primary and excess of loss products.
Paul Jewell, Chief Executive Officer of Bridgehaven Insurance, expressed the significance of this collaboration, stating, “This partnership between Bridgehaven and Alchemy is a significant milestone for both companies.”
He highlighted the launch of a dedicated professional risks unit, led by industry veteran Ian Bowler, with Richard Housley guiding Alchemy Underwriting.
Jewell emphasised the professional and highly experienced nature of the combined team and the commitment to supporting their ambitions.
Richard Housley, Chief Executive Officer of Alchemy Underwriting, added, “With over 30 years’ experience in professional risks, Ian has an outstanding reputation in the market.”
He underscored that the collaboration with Bridgehaven marks a crucial development in broadening their professional indemnity solutions.
Bridgehaven, having debuted in July 2023 as the UK’s inaugural risk-taking fronting insurer in commercial and specialty lines, aims to establish a robust insurance chain devoid of weak links.
The company’s vision includes fostering exclusive partnerships with high-quality MGAs and reinsurers to accelerate innovation and create a transparent environment for data sharing. The emphasis lies on long-term performance, promoting a cohesive, confident, and efficient insurance ecosystem.
