Bridgehaven Europe Holdings has announced an agreement to acquire SureStone Insurance DAC, a Dublin-based insurer, marking the hybrid insurer’s first step in establishing a regulated underwriting presence in the European Union.
The transaction will see Bridgehaven transition SureStone into its first EU subsidiary, enabling the firm to underwrite European risks through the managing general agent (MGA) market.
The company currently writes more than £350 million in binder premium through its UK MGA partnerships and facility arrangements.
Bridgehaven said it plans to use the acquisition to support MGA demand for EU-based commercial and specialty insurance products across all 27 member states.
The EU MGA market is projected to reach £50 billion in premium volume over the next three to five years. This growth projection points to a rising number of MGAs seeking pan-European access following Brexit. This trend is being driven by digital platforms, niche underwriting opportunities, and an appetite among reinsurers for delegated authority arrangements with managed oversight.
SureStone, which entered run-off at the end of 2019, previously focused on property and casualty lines. Bridgehaven confirmed that it will continue to meet all existing financial and regulatory obligations to policyholders, claimants, and business partners.
Bridgehaven chief executive officer Paul Jewell (pictured above) said the acquisition represents a key step in the company’s development.
“Going forwards, we will support MGAs who require EU commercial and specialty products across the 27 EU states. Our aspiration is to be the leading hybrid insurer supporting MGAs, linking quality reinsurance capital to a diversified and profitable portfolio,” Jewell said.
Bridgehaven was launched in mid-2023 with backing from private equity firm Flexpoint Ford. The insurer was established as a hybrid fronting platform focused on bridging MGAs and reinsurance markets, combining regulated underwriting capability with retained risk to offer long-term programme stability.
The acquisition of SureStone reflects broader trends in the MGA ecosystem, where hybrid fronting insurers are increasingly used as a structural mechanism for cross-border expansion.
Fronting carriers are now playing a larger role in European programme business, with market observers projecting that they could capture as much as 10 % of the MGA segment in coming years.
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