MGA secures $20m livestock facility with Axa XL

Aventum-owned Rokstone Agriculture has secured a new capacity partnership with Axa XL for an excess livestock risks facility providing limits of up to $20m (£15m).

The agreement expands the international specialty (re)insurance MGA’s livestock proposition and increases its total available livestock capacity to $30m (£22.6m).

The new facility will provide capacity for excess livestock risks, while also offering a secondary option for primary livestock coverage on a non-admitted basis.

It builds on Rokstone Agriculture’s existing $10m (£7.5m) primary perils facility, which is written on both an admitted and non-admitted basis.

Growing demand

Rokstone said the additional capacity comes amid increasing demand from livestock operators seeking higher insurance limits as the value of livestock continues to rise.

Eric Conklin, chief executive at Rokstone Agriculture, said: “We’re delighted to have such committed capacity partners.

“I joined Rokstone from Axa XL, so I’m personally delighted to have their quality endorsement. It stands as a testament to the market’s confidence in our expertise and support for the forward-thinking approach and innovative portfolio we bring to the world of livestock insurance.

“This excess capacity is especially critical at a time of increased risk exposure for owned and non-owned livestock businesses, with clients looking for higher limits to meet the growing value of their stock.”

Lorraine Mills, underwriting manager for livestock at Axa XL, added: “We are pleased to partner with Rokstone Agriculture on this new excess livestock facility, which reflects our confidence in the team’s specialist underwriting expertise and disciplined approach to risk selection.

“We look forward to building on our long-standing relationship with Rokstone and supporting its continued growth in this important sector.”