Speciality managing general agent (MGA), Optio Group, has secured new underwriting capacity by AmFirst Insurance Company, to provide underwriting capacity for political violence and terrorism (PVT) risks.
AmFirst is a large, US based, A-rated carrier, known for its property & casualty and medical areas of specialism.
Optio underwriters will now be able to accept PVT risks internationally – excluding the US – thanks to the capacity provided by AmFirst exclusively via Optio.
The capacity will be used in conjunction with the MGA’s recently developed digital rating tool, which enables real-time, data-driven underwriting of PVT risks, providing greatly enhanced efficiency and service for brokers and insureds.
Tom Kennett, who this year was appointed Optio’s UK head of political violence and terrorism, commented: “I am extremely pleased to announce that we have successfully secured capacity on an exclusive basis to underwrite PVT risks.
“We look forward to working with our new insurer partner AmFirst in bringing much-needed new capacity to the PVT market at a time of pronounced geopolitical uncertainty.”
Chris Kirby, global head of PVT, had previously commented: “The last few years have been the most active on record for the global PVT market and we have been bolstering our presence and product offering to support this growing segment.
“Tom’s market standing and experience, as well as his impressive background in business production both through the London market and international brokers, will be essential as we continue to realise our ambitions across North America and Western Europe.”
