’We’re delighted to announce this extension and significant increase in limit, just one year into a successful three-year relationship,’ says chief underwriting officer
Atec Group-owned MGA Arkel has secured £380m in delegated authority capacity from AmTrust, extending the binder until 2031.
The capacity will underwrite niche property across several lines of business including household, caravan and beach huts.
In addition to this extension, the MGA has also recently renewed its £25m delegated authority binder with Lloyd’s for landlords’ let property.
Commenting on the deal, Kris Lee, chief underwriting officer at Arkel, said: “We’re delighted to announce this extension and significant increase in limit, just one year into a successful three-year relationship.
”In the last five years, we’ve gone from being the new kids on the block to wanting to dominate the non-standard household space.
”We’ve achieved this by maintaining underwriting discipline and pricing stability and by harnessing tech-driven innovation to make it easier than ever to transact with us. We also could not have achieved this without AmTrust’s support. They have total faith in us as an underwriter to deliver results.”
Extending the relationship
Arkel’s gross written premium (GWP) has grown 40% over the last two years through distribution expansion and new partnerships.
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Bruce Whitmee, chief executive at AmTrust Speciality, said: “We’re pleased to extend and enhance our long-standing relationship with Arkel.
”We believe in their model, we trust their talented team and we’re confident that they have the strong distribution and discipline to drive sustainable growth.”
Lee added: ”It’s reassuring for us, and in turn our broking partners, that we have an insurer that allows us the autonomy to utilise our wealth of expertise in this space to maintain a long-term, stable and competitive proposition, which is crucial as the market continues to pose challenges.”
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