Else Holding, the holding company that owns elseco, Peloton Underwriting and ATOM technology platform, has announced that Mercutio Risk Partners Ltd., formerly known as Montague Risk Partners Ltd (MRP) business will fold into else Group with immediate effect.
According to the announcement, the newly formed MGA platform Peloton Underwriting combines else Group Buy-and-Build global MGA with Mercutio Risk Partners Ltd., business, all running on one single insurtech platform: ATOM.
At the same time, the transaction will also see MRP founder and CEO Donald Harrell join the else Group executive team, where he will report to CEO & Founder Laurent Lemaire. Moreover, Harrell will also be Managing Director of else’s Buy-and-Build global MGA, Peloton Underwriting.
else Group’s global reach is heavily driven by its local presence in the UK, Switzerland, France, Sweden, United Arab Emirates and United States.
The group operates through three business pillars:
Firstly, there is elseco, a Dubai-headquartered MGA. elesco is the underwriting specialist for high-technology risks. The company uses continual product innovation, data-centric insights and a curiosity-led approach to create relevant insurance solutions across the globe. elesco also runs on ATOM insurance operating system.
Additionally, there is also Peloton Underwriting, a London-headquartered buy-and-build MGA platform that also operates on ATOM insurance operating system. The company also has a local presence in France, UK, US and Sweden.
Lastly, there is ATOM Insurance Operating System, a technology platform which enables MGAs to run efficiently and develop tools and models to quantify, forecast and underwrite complex and rapidly evolving risks, while constantly researching for further improvements.
Harrell said: “I’m delighted to combine MRP with the else Group business suite, a renowned forward-thinking, technology-led platform. Joining Laurent and the passionate team of experts at else Group is a natural fit to continue our mission to deploy cutting-edge technology, relevant data sources and analytics to transform specialty underwriting and reduce operational expenses through a highly efficient insurance platform. I look forward to the next phase of our growth.”
else Group CEO & Founder, Laurent Lemaire, commented: “We are excited to welcome Don together with the MRP business. Our technology, growth ambitions and Don’s clear vision to expand the frontier of specialty underwriting are an ideal match. Don is an outstanding leader who I am looking forward to working with as we continue our international expansion.”
