MGA secures Lloyd’s capacity for global yachts expansion

Amiga Specialty has secured $25m (£18.6m) of A rated Lloyd’s capacity for its yachts division as the MGA looks to expand its presence across international marine markets.

The capacity will allow the business to underwrite yacht risks globally, with a particular focus on the US, Southeast Asia and Europe, as it continues building out its specialist marine offering less than a year after launch.

The development follows the recent opening of Amiga Specialty’s Hong Kong office, with the business identifying Southeast Asia as a major growth opportunity for its yachts portfolio.

The MGA said the appointment of Jason Stephenson as managing director of yachts had helped accelerate access to Lloyd’s-backed capacity, strengthening its ability to support brokers and clients operating internationally.

The move reflects wider growth ambitions among specialist MGAs looking to expand internationally through targeted niche propositions and delegated underwriting authority backed by Lloyd’s capacity providers.

Important milestone

Stephenson described the agreement as an “important milestone” for the division and said it would provide a strong platform for international growth.

He said: “It provides us a strong platform from which to support brokers and clients internationally, backed by exceptional capacity and a specialist underwriting proposition.

“With Amiga Specialty’s growing presence in Hong Kong, we are well positioned to deliver responsive, targeted solutions across these important markets.”