Former DAS bosses team up to launch new UK MGA

A new MGA has launched in the UK with the backing of Greenlight Re Innovations (GRI).

Caled Elevate Specialty, the firm aims to redefine embedded and specialty insurance through “relentless innovation, data-driven precision and an unwavering commitment to delivering exceptional customer outcomes”.

Among its offerings include legal expenses insurance and income protection for renters. Other products, such as cyber and home emergency, are also available.

Elevate Specialty said its products and services are “native by design”, meaning they are seamlessly integrated into environments where customers need them most.

The firm was founded by ex-DAS bosses Mickey Attia and Robin Stagg. Attia holds the role of chief executive, while Stagg serves as chief operating officer.

In an exclusive interview with Insurance Times, Attia said: ”We identify areas where insurance can be used to make a difference to customers. So, we focus on products where, traditionally, the customer is underserved and the value is missing.”

He added: ”What we’ve done, and we do this with all our products, is we go, ’what does the customer want?’

“And we give them what they want, rather than trying to retrofit a product to a customer need that doesn’t actually deliver.

”We’re a Consumer Duty focused MGA, so we value Consumer Duty. We’re not using it as a tick box exercise, that’s how we run our business. We create products that actually do what the customer wants it to do. 

“So, we put customer outcomes at the heart of everything we do.”

Growth plans

Through its partnership with GRI, Elevate Specialty will gain access to A-rated underwriting capacity, enabling accelerated growth and expansion across its specialty product lines.

The MGA has also partnered with OneAdvent, a provider of specialist operational, regulatory and compliance services for the MGA market.

OneAdvent’s support will help Elevate Specialty launch, manage and scale specialty insurance products.

Attia said that for its first financial year, the MGA is targeting about £5m in gross written premium (GWP).

He hopes this will increase to £80m GWP by 2027 and £100m by the end of 2030. 

He added: “We’re scaling, we’re backed by really strong investment partners .

“If we apply our mission and our vision to the products we identify as where there is opportunity, we can really make a change in those markets.”

Robin Stagg, chief operating officer and founder at the MGA, said: “At Elevate Specialty, we believe insurance is valued when it works – and it works best when it’s native.

“By making protection feel like a natural, useful part of customers’ everyday environments, we unlock engagement, improve outcomes and deliver measurable value for partners and customers alike.”