Specialist reinsurance MGA, Connect Underwriting Limited, has announced the launch of London-based MGA Stability Risk UW Limited.
Regulated by the UK Financial Conduct Authority, Stability Risk will be supported by Lloyd’s and London-market capacity and will initially write contingency, casualty, cyber and financial lines on a global basis.
Connect Underwriting said the launch of a separate business for the classes will enable it to maintain focus on its core specialist areas of property, energy and political violence.
The formation of this subsidiary follows the launch of Connect Group’s Pixel Re in December, a dedicated monoline reinsurance vehicle for global property and downstream energy risks with attachments of typically $500 million and above.
Jamil Elbahou, Group Chief Executive Officer and Chief Underwriting Officer, commented, “There is huge potential across the markets Stability Risk will write and we will service that need by combining traditional high-quality underwriting with advanced technology to deliver the future of digital distribution in our chosen classes.
“Distribution will be via our existing international partners and the London broking community and we are genuinely excited to bring new business into the London market.”
