MGA announces new long-term capacity arrangement

Specialist Risk Group’s managing general agent (MGA) MX has signed a new capacity agreement with Accredited Insurance (Europe) Limited.

The firm, which has an A- rating from AM Best, is supported by a panel of A rated reinsurers.

MX felt the partnership would provide improvements in its capacity across the UK and Ireland. 

And with Accredited having licenses throughout Europe, MX said it would be able to look at new products and territories, while expanding its underwriting capabilities and trade appetite.

Warren Downey, SRG group chief executive, said: “Our new partnership with Accredited signifies the next step for our flourishing MGA MX.

”The long-term commitment from Accredited provides stability and reliability, as we enter the next stage of MX’s exciting growth journey.

”This new deal enables MX to increase its underwriting firepower, allowing for higher limits and broader trades. It also provides enhanced flexibility for adding new products.”

Brokers

MX will be engaging with its broker network to discuss the new capacity arrangement and how it will enhance the overall proposition for stakeholders.

Colin Johnson, chief executive of Accredited Europe, said: ‘’We are delighted to expand our relationship with MX.

”Having worked well with the MX team in Ireland for the past few years, we now regard them as a key partner to Accredited and our new and improved capacity contract across both the UK and Ireland evidences our commitment to their products, service and ambitious growth plans.

“We look forward to an exciting future together.”