Novae to provide capacity
Lloyd's broker Besso has launched a managing general agency (MGA) called Gladstone Underwriting, which will provide an online commercial underwriting facility.
Novae Syndicates is the capacity provider for the new MGA, which willl focus exclusively on UK commercial business offering package insurance arrangements for small and medium-sized firms.
Gladstone ultimately aims to accommodate a composite style approach across all classes of commercial insurance within the next five years. In the meantime this arrangement will be complemented with access to Novae’s motor fleet underwriters, Besso said.
Terry Wellard has been appointed chairman of the new MGA. Vanessa Lampard has been named underwriting director.
“Lloyd’s has recently reinforced the importance of distribution through the likes of MGAs in the market making them ‘flavour of the month’," says Wellard. “When I was approached by Besso to assist in the formation of Gladstone Underwriting, the unique proposition to create a virtual insurer was irresistible. The management is sound, the all important underwriter has a wealth of experience and we are seeking to create a panel of good quality brokers."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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