Phoenix Specialty, a London-based managing general agent (MGA), has strengthened its underwriting capabilities with an increase in available capacity, allowing greater flexibility when structuring risks.
On an individual basis, the business can now support probable maximum losses of up to £50m for both annual policies and single-project risks within the UK.
In parallel, the MGA has obtained Lloyd’s capacity support on a prior submit basis. This development allows the London-based firm to assess Erection All Risks (EAR) business worldwide across territories approved by Lloyd’s of London.
Under this EAR proposition, capacity of up to $27m total insurable value is available, targeting a wide range of sectors such as steel, cement, mineral processing, breweries, bottling plants, dairies, semiconductor and pharmaceutical facilities, as well as data centres.
These enhancements build on the introduction of Phoenix Specialty’s Global CPE proposition, launched in mid-2025. Designed primarily for annual renewable business, the offering is accessible through both direct insurance and facultative reinsurance structures. Coverage extends to owned and hired plant across nearly all asset categories, whether above or below ground, and accommodates both lead and follow line placements. A disciplined, technical underwriting approach combined with active portfolio oversight supports the proposition.
Tim James, CEO of Phoenix Specialty, said: “This is a significant milestone for Phoenix and gives us further opportunity to expand our offering and better support our broker partners.”
“The additional backing we’re secured, on top of our existing capacity arrangements is testament to our focus on delivering a high-quality, dependable service, underpinned by the depth of underwriting expertise across our team.”
“We have made a fantastic start to 2026 and have a number of exciting projects in development. The team is energised and excited to continue working closely with our broker partners to grow our mutual accounts.”
