’Distribution will be via our existing international partners and the London broking community,’ says chief executive
Connect Underwriting has launched a new London-based managing general agent (MGA) to underwrite contingency, casualty, cyber and financial lines on a global basis.
A statement released today (11 September 2023) said the new MGA, called Stability Risk UW, will be supported by Lloyd’s of London and London market capacity.
Jamil Elbahou, Connect group chief executive and chief underwriting officer, said the move came as there was “huge potential across the markets Stability Risk will write”.
“We will service that need by combining traditional high-quality underwriting with advanced technology to deliver the future of digital distribution in our chosen classes,” he added.
Distribution
This came after Connect launched Pixel Re in December 2022.
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The firm is a monoline reinsurance vehicle for global property and downstream energy risks with attachments of around $500m (£399m) and above.
Connect revealed launching another business would allow it to maintain focus on its core specialist areas of property, energy and political violence.
Speaking about Stability Risk’s strategy, Elbahou said: ”Distribution will be via our existing international partners and the London broking community and we are genuinely excited to bring new business into the London market.”
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