There have been a sea of new arrivals in the UK MGA market in recent times – and today another has washed on to our shores, with a firm focus on the marine market.

The anchor has been dropped by Leeds-based Fiducia, which is backed by capacity from Hiscox and other Lloyd’s syndicates and states that it want to deliver “high levels of service” to the sector. It will initially focus on the regional cargo market via UK brokers and will be led by CEO Gerry Sheehy, a veteran of the marine market.

“I am delighted to be able to launch Fiducia at a very exciting time for the UK marine and cargo sector,” Sheehy said. “Regional brokers are becoming increasingly aware of the opportunities that the class of business represents and Fiducia has created a team which can meet the needs of both the intermediaries and their clients. We believe that we will be able to differentiate ourselves not only by the quality of the products that we have developed, but also by the level of service that will support our policyholders and intermediary partners.”

“Our initial conversations have been extremely positive and there is clearly a desire for choice and innovation from brokers,” he added.

The MGA has investment from BP Marsh & Partners and will have regulatory and back office support from Ambant Underwriting Services (AUS).