Rokstone-owned MGA adds Collinson Group to warranty and affinity panel

Rokstone-owned affinity MGA Novus Underwriting has partnered with Collinson Insurance over its annually renewable warranty products, representing more than 500,000 policies.

The new exclusive binding authority strengthens Novus’s position within the UK and complements the existing relationships in place with several other providers.

John McGonigle, chief underwriting officer at Rokstone Consumer, said: “The Novus team at Rokstone has ambitious plans and we’re delighted that Collinson Insurance shares our vision.

“It operates incredibly stringent due diligence processes, so this expansion of our relationship is a huge endorsement of our expertise.

“We are focused on being the best underwriting business in the global warranty and affinity space. We never stand still, constantly turning niche opportunities into profitable, expertly written and well-managed schemes under the exclusive authority of our carrier partners.”

‘Strong track record’

Currently Novus writes over £230m gross written premium (GWP) per annum across mobile device protection, extended vehicle warranty, Gap affinity programs, appliance and furniture warranty and financial protection products. 

In the next five years, it is targeting £550m GWP per annum, as well as seeking future expansion into the US, Australia and India.

Lawrence Watts, chief executive at Collinson Insurance, said: “Novus has a strong track record for underwriting excellence and service innovation, precisely what Collinson Insurance prioritises.

“The partnership will be a valuable addition and supports our strong growth ambitions and we look forward to working with their talented team, delivering the long-term value we expect.”