MX insider: November 2024
Ian Cook, Managing Director of MX
For this instalment of our refreshed quarterly update series, I am looking ahead to what is to come across MX. As a fast-growing MGA, we continue to strengthen our position in the market by embracing innovation and expanding our capabilities. As we look ahead to 2025, I’m excited to share some significant developments across our business. From enhanced solutions at MX Underwriting Europe, to new capabilities in the UK, we’re continually refining our solutions to underscore our commitment to delivering efficiency and relevance to our clients.
A holistic approach at MX Underwriting Europe
As we shared in our previous update, at the end of H2 we announced a new long-term A-rated capacity* partnership with Accredited. In Ireland, we have built on this by working with Brian Pilkington, Broker Development Manager at TUE, and are engaging with our broker partners to promote our extended capabilities as a result.
We are also pleased to be welcoming direct enquiries for new business and renewals on Property business, meaning we can service even more of your clients' needs. Our new capacity, coupled with our wider offering which now extends to include our Medical Malpractice capability, makes MX Underwriting Europe an even more rounded and comprehensive solution for hard-to-place risks in Ireland.
Increased capacity, new capabilities and enhanced relevance in the UK
MX Commercial remains well-established, with the recent improved capacity giving us more strength in increased limits and capability. Alongside this, we have acquired Trilogy Underwriting, our London Market underwriting business that serves the needs of London Market brokers. We will continue to develop and partner with our brokers on opportunities within this space.
We also have the valuable addition of Tristar Special Risks, our specialist terrorism and political violence business. We intend to offer this across MX, so, as broker partners, you will likely begin receiving terms alongside Property and Casualty new business and renewals and added engagement from our specialists on how your clients can benefit from this. This enhancement furthers our position as a one-stop shop for our broker partners.
In the same vein, just last week we announced the acquisition of specialist reinsurance firm NW Re. We’re thrilled to welcome this expert team to MX, renowned for their disciplined approach to UK Property reinsurance. Their expertise enhances our underwriting specialisms and reinforces our commitment to providing a full spectrum of specialist solutions for you and your clients.
Increased efficiency with MXC Online
We are always looking for ways we can assist with making brokers' lives easier. With our online quoting platform MXC Online, you can access quick quote turnarounds across multiple commercial insurance lines, a smooth and intuitive process to bind cover and flexible solutions that meet the needs of your clients. We’re working with our broker partners on an individual basis to agree on how they can benefit from the portal, but we anticipate this will be a real game-changer in freeing up time to focus on client relationships and business growth for those who capitalise on this.
Strengthened solutions to now include Motor Fleet
With solutions for haulage, couriers and self-drive hire, we are thrilled to welcome newly acquired Capulus Ltd to MX. We are eager to engage with our broker partners on this enhanced offering and look forward to working together to offer you access to these products when the timing is appropriate.
We are constantly striving to provide more comprehensive and innovative solutions for our broker partners and clients, and the progress we have made on this in recent months will power us forward, not only to end 2024 on a high but into 2025 and beyond. Get in touch with one of our MX teams to find out more about our services and solutions designed to support you and your clients.
*A rating by AM Best, October 2024
