Specialist Risk Group unveil new long-term capacity arrangement for its MGA business, MX
LONDON – 5 June 2024 – Specialist Risk Group’s MGA, MX, today announces a new capacity agreement with Accredited Insurance (Europe) Limited (AIEL), a leading programme manager with an A- rating from AM Best*. AIEL are supported by a panel of A rated reinsurers. The partnership provides MX with significant improvements in their capacity across the UK and Ireland.
Launched in 2021, MX’s new capacity model ensures stability and scalability for its business. It empowers MX to confidently pursue growth opportunities while maintaining its underwriting integrity and consistency.
Accredited has licenses throughout Europe, which will enable MX to explore new products and territories while expanding its underwriting capabilities and trade appetite.
MX will be engaging with its broker network to discuss the benefits of the new capacity arrangement and how it enhances the overall proposition for stakeholders.
Warren Downey, SRG Group CEO, comments:
“Our new partnership with Accredited signifies the next step for our flourishing MGA, MX. The long-term commitment from Accredited provides stability and reliability, as we enter the next stage of MX’s exciting growth journey. This new deal enables MX to increase its underwriting firepower allowing for higher limits and broader trades. It also provides enhanced flexibility for adding new products
This is a significant development for MX, and we welcome the opportunity to speak with people and businesses eager to be part of this growing and exciting MGA within the market.”
Colin Johnson, CEO at Accredited Europe, said: ‘’We are delighted to expand our relationship with MX. Having worked well with the MX team in Ireland for the past few years, we now regard them as a key partner to Accredited and our new and improved capacity contract across both the UK and Ireland evidences our commitment to their products, service and ambitious growth plans. We look forward to an exciting future together.’’
*Rating information correct as of June 2024.
