Deal with Mapledown will provide nationwide coverage to UK construction firms
AXA Commercial Lines and Personal Intermediary has agreed to provide capacity for construction professional indemnity risks to Lockton-owned underwriting agency Mapledown.
This is the second deal AXA has struck with Lockton recently. In June it signed an agreement with the broker to cover real estate firm Regis ‘s freehold properties across the UK.
In the latest deal, Mapledown will work closely with AXA’s PI team in London and Bristol. The companies will use Mapledown’s national coverage to target regional construction firms across the UK.
The principal relationship will remain within the recently expanded AXA branch in Bristol.
The deal follows AXA’s strategy to place dedicated PI underwriters across its branch network. The insutrer said discussions are underway to explore further capacity deals.
AXA assistant PI manager Chris Moseley said: “Mapledown are real experts in their chosen markets and we are delighted to be able to provide the capacity for their construction PI risks.
“The class of business and the performance of the book made this a very attractive proposition for us.
“The phased roll-out of AXA’s regional PI proposition across the branch network is really starting to produce results and this deal with Mapledown featured all the attributes we look for, namely brokers or MGAs who can bring knowledge, access and regional reach to our own extensive expertise to create a proposition that construction clients can trust.”
Mapledown professional lines underwriter Gerry Bowditch added: “To have a partner of AXA’s stature gives Mapledown the opportunity to grow our PI account in line with their own aspirations.
“I am confident this will form the foundation of a successful and long-standing relationship, with the potential to expand into other professions beyond the construction sector.”