Jensten Underwriting secures £300m capacity deal with Zurich UK

MGA Jensten Underwriting has secured a new multiyear capacity deal with Zurich UK worth over £300m.

The five-year placement provides capacity for cross-class property, casualty and motor. The MGA said the arrangement provides enhanced scale, financial strength and long-term stability.

Jamie Lewis, managing director at Jensten Underwriting, said the move ”is a key milestone in our evolution as a virtual insurer”.

”We’re delighted to have secured this scalable, long-term commitment from Zurich, one of the world’s most trusted brands. For brokers and clients, this move provides even greater stability and security behind our products,” Lewis added.

Robert Organ, group chief executive at Jensten, said: “Zurich is already one of our key partners, so it’s exciting to widen our strategic relationship in this way.

”A transaction of this scale and diversity at the current stage in our evolution under Bain ownership is a testament to the quality and credibility of Jensten Underwriting. It aligns and strengthens the confidence the market has in our underwriting capabilities, our people, our governance and, equally relevant, our ambition with one of the most trusted brands in the world.”

Strong platform

The news follows the recent announcement that Jaime Swindle will join Jensten later this year as the chief executive of product and distribution, the newly created division that Jensten Underwriting sits in.

David Nichols, head of retail at Zurich UK, said: ”In recent years, we have built a strong and trusted relationship with the team allowing us to accelerate our growth together. Jensten have developed a disciplined underwriting business with a clear focus on delivering for brokers and customers, aligning closely with our own commitment to supporting brokers and clients for the long-term.

”Bringing together Jensten’s underwriting expertise with Zurich’s scale and long-term commitment, we’re confident this partnership will create a strong and sustainable platform for growth.”