AXA and Gresham sign three-year deal where the insurer will provide £20m of capacity
AXA has entered into an agreement with Gresham Underwriting, the MGA arm of Tasker Insurance Group, where the insurer will provide £20m of capacity.
AXA is providing the support to Gresham product lines, as well as the introduction of Gresham’s Instant Quotes broker platform, which AXA has backed.
The first of the new products is expected to be live within three months. 18 products are already available on the platform.
John Heaney, director of schemes and MGAs, AXA Insurance said: “Over the past 12 months, Gresham has introduced new risk assessment and selection methodologies which gives us the confidence they will continue to deliver on their underwriting results and we look forward to working with Gresham to develop these improvements further.
“Both AXA and Gresham have an appetite for growth and we look forward to developing new products and exploring new markets in partnership with the Gresham team.”
Chief underwriting officer at Gresham, Rob Munden added: “This is an exciting time for Gresham as we look to rapidly move the business forward. To have the support of a partner of AXA’s standing helps this process greatly. Having a carrier portfolio of the existing Lloyd’s syndicates alongside company market capacity provides us with an excellent platform for growth. We are delighted to be partnering with AXA as we move to the next stage of our evolution.”