New London-based MGA specialising in financial lines launches

Managing general underwriter Acies MGU has launched a new MGA specialising in financial lines.

Called Subscribe MGA, the Lloyd’s-backed firm will offer professional indemnity, management liability and directors and officers (D&O) coverage.

Based in London, the business will serve both UK and international markets, with a focus on the SME and mid-corporate sectors.

Mark Heath, chief executive at Acies MGU, said: “Launching Subscribe MGA enables us to offer key financial lines protection for our SME customers, as well as entering into the larger mid-market segment.

”This supports our strategy earlier this year with the expansion of Acies SME’s regional footprint from London and the south east to the south west and Midlands.

”Like Phoenix Specialty, Subscribe will also be writing London market slip business and local international business. We are advanced with our plans to launch additional specialisms, which will be announced shortly.”

Leader of the MGA

Subscribe MGA is led by director of underwriting Rob McKay, an experienced UK and international financial lines underwriter and former head of professional indemnity for London market at Manchester Underwriting Management.

“McKay is joined by a team of highly respected industry leaders with London market experience, including roles within Lloyd’s syndicates and MGA platforms,” Acies MGU said.

McKay added: “Subscribe MGA is built on a foundation of experience, agility and a commitment to excellence. We’re excited to bring a fresh perspective to financial lines underwriting and deliver meaningful value to our broker partners and clients.

“As a new MGA, we don’t have legacy systems that tie us to a specific way of doing things and we use this to our full advantage, combining a highly technical underwriting approach with the power of technology.

”This allows us to reimagine the MGA approach, giving us the opportunity to target larger slow-moving competitors that are struggling to meet the changing market expectations.”