Aventum-owned MGA launches Lloyd’s-backed D&O and PI facility

Aventum-owned MGA Rokstone has launched a combined directors and officers (D&O) and professional indemnity (PI) facility for financial institutions (FI) in the UK, Europe and the Caribbean.

The facility is backed by a $10m (£8m) Lloyd’s binder and caters to a range of FI’s such as private equity firms, hedge funds and investment managers.

The MGA explained that it had made the move after identifying a gap in the market for a ”secure, Lloyd’s-backed offering led by underwriting expertise”.

Jimmy Heaton, head of D&O at Rokstone, said:“Entering the FI space was the logical next step for us. We already have extensive PI and D&O experience and enviable backing from our capacity partners.”

The decision

Rokstone’s decision to expand into the FI sector aligns with feedback from brokers.

The firm aims to provide a holistic underwriting approach, leveraging its existing expertise and territorial reach.

“We give brokers a reliable and consistent service, and for a while, many have been expressing a desire for us to expand our offering and bring the same holistic approach for FI,” Heaton said.

“Combining our commercial and FI capabilities within one team, coupled with a broad territorial appetite and Lloyd’s backing, we have created a formidable offering.”