Specialty MGA UK has commenced business in London on Thursday, with its opening providing additional capacity for specialty lines of businesses and hard-to-place risks, the company said.
The new MGA is backed by Specialty Management UK. It provides all line services across all territories and is backed by rated securities, with more securities currently being added to the panel of reinsurers. Among its offered lines of business are property, construction, energy, marine, construction, aviation, financial lines, accident and health, and surety.
The firm said its proximity to the Lloyd’s market will allow it to offer brokers easy access to its underwriting experts, who are very keen to meet with their brokers in person to discuss their needs.
Specialty MGA UK is headed by Philippe Bara (pictured above left), class underwriter for energy, who has moved from broking to return to his previous specialisation of underwriting. Bara previously worked for Partner Re as a senior underwriter in the past and has 30 years of experience in the energy market, including wind farms, geothermal, offshore energy, power cables and shale gas and oil, in both Paris and London.
“Specialty MGA UK will provide brokers and their clients with answers straight away,” Bara said. “Our extensive experience as senior underwriters in the industry and deep understanding of our clients’ industry sectors allows us to respond to any requests or claims immediately without delay, providing clients with rapid underwriting decisions which cannot be matched elsewhere.”
Joining Bara is Mark Palmer (pictured above right), senior underwriter for international property, who has almost 40 years of experience working in the insurance and reinsurance industry. Throughout his career, Palmer has written for both Lloyds of London syndicates and London-based companies. His underwriting experience covers most trades, occupations and territories with a focus on Central and South America in the last 10 years, overseeing property referrals worldwide.
“Based in Central London and a short distance from Lloyd’s market, we are very keen to meet clients in person to enhance our relationships and discuss their specific needs and requirements,” Palmer said. “As a new and forward-thinking MGA, we will do everything to make brokers’ lives easier through providing their clients with speedy, concise and predictable services that will significantly reduce their cost of risk.”