MGA expands HNW offering following £250m capacity deal

MGA Bspoke Private Clients has expanded its high net worth (HNW) offering following a recently announced £250m capacity provision deal.

The firm – a subsidiary of Bspoke Group – said it had bolstered its maximum line size to £15m per single location, “broadening its appetite and the range of HNW business” it can support.

The capacity change follows last week’s confirmation of a new £250m five-year funding deal, in which risk capitals providers were matched with the firm via insurance platform Accelerant Risk Exchange.

The firm added that the recent investment had also facilitated product enhancements and policy word changes across its Gold and Platinum policies, which are tailored to mid and HNW individuals respectively.

Bspoke Private Clients also announced Arag as its new home emergency and legal expenses provider, a move it said would result in “broader support for policyholders, including access to a cyber helpline”.

Major step forward

Stuart Bromley, managing director at Bspoke Private Clients, said: “Increasing our line size to £15m significantly widens the breadth of opportunities we can support and strengthens how we’re positioned in the HNW market.

“Bspoke Private Clients has been on an exciting journey over the past two years and with this new backing, it represents a major step forward in our capabilities.”

Ryan Gill, chief executive at Bspoke Group, added: “This announcement underlines our commitment to being a reliable, long-term partner for brokers in the private clients space.

“We are delighted to expand our relationship with Accelerant and to strengthen our proposition to customers with increased capacity, enhanced product offering and direct access to decision makers delivering a high quality of service.”