Casper Specialty UK Limited is set to launch as a new specialist managing general agent (MGA), focused on the casualty market and led by industry veteran, Bradley Knight.
The firm will operate independently as a sister entity of leading specialist re/insurance broker, Miller, along with capacity support from Argenta.
Both Cinven and GIC invested in Miller in 2021 and the establishment of Casper, as part of the broader Group, aligns closely with the ambition to support high-quality, specialty focused, insurance intermediaries.
Casper has confirmed that it will begin writing business from March 1, 2023, and that its headquarters will be in London. Additionally, the firm will also be structured to write European business.
The company has also stated that it will underwrite a broad range of FI and Professional Lines, and that it also plans to underwrite a significant portfolio of casualty business too.
Casper’s founding management team, together all bring strong reputations in the market for delivering underwriting outperformance over many years and across a number of highly regarded underwriting platforms.
Leading the new business, will be Bradley Knight, who has worked in the industry for over 36 years. Throughout his career, Knight has established himself as one of the most highly regarded casualty underwriters in the London Market.
In his most recent role, he served as Deputy Active Underwriter & Head of Casualty Insurance at Argenta.
Casper noted that Knight will join the board as CEO once regulatory approval has been obtained.
Knight will be supported in his new role by Simon Sykes, who currently serves as CEO of Polo Managing Agency and Polo Commercial Insurance Services, as COO, and Hugh Sprowson, previously Head of FI at Argenta, as CUO.
“We’re hugely excited to launch Casper to the market. The casualty market is undergoing dynamic change as it looks to adapt to factors such as high inflation and a more challenging economic environment; myself and the team believe that there is a significant opportunity to offer carriers a proven underwriting partner that can enable them to access the opportunities these market conditions present,” said Knight.
“As a newly formed MGA, we will also look to put data at the heart of how we do business, offering real time access to our capacity partners giving them greater visibility over business written and underwriting performance. We are also delighted to have agreed a partnership with Argenta, building on the existing deep relationship. We look forward to beginning our growth journey with the support of our investors and market partners.”
Ian Burford, Argenta Group CUO, added: “We are delighted to support the launch of Casper and build on our existing relationships. Our multi-year partnership provides Casper with meaningful capacity for its programmes. The Casper team’s proven expertise in the specialist casualty market is clear and we look forward to working with them as they seek to build a high-quality and profitable portfolio, as well as further deepening our relationship with the wider Miller Group.”
