Specialty MGA UK launches in London

Specialty MGA UK has launched today (20 October 2022) with a focus on providing additional capacity for specialty lines of businesses and hard to place risks.

The team is headed up by Philippe Bara, a class underwriter for energy who has moved from broking to return to his previous expertise in underwriting.

Bara has worked for Partner Re as a senior underwriter in the past and brings 30 years of experience in the energy market including familiarity  with windfarms, geothermal, offshore energy, power cables and shale gas and oil, in both Paris and London.

Bara said: “Specialty MGA UK will provide brokers and their clients with answers straight away.

“Our extensive experience as senior underwriters in the industry and deep understanding of our clients’ industry sectors allows us to respond to any requests or claims immediately without delay, providing clients with rapid underwriting decisions which cannot be matched elsewhere.

“We deliver real value to our clients through finding unique solutions to their requirements, providing flexible services and covers to sufficiently meet to their ever-changing needs.”

Forward thinking MGA

Being in very close proximity to the Lloyd’s market, the MGA will be able to offer in-person brokers easy access to underwriting experts.

Specialty MGA UK provides all line services across all territories and is backed by rated securities, with more securities currently being added to the panel of reinsurers.

The MGA will be focusing on lines of business including property, construction, energy, marine, construction, aviation, financial lines, accident and health and surety.

Bara will be joined by Mark Palmer, senior underwriter for international property, who has almost 40 years of experience working in the insurance and reinsurance industry.

Palmer added: “Based in Central London and a short distance from Lloyd’s market, we are very keen to meet clients in-person to enhance our relationships and discuss their specific needs and requirements.

“As a new and forward-thinking MGA, we will do everything to make brokers’ lives easier through providing their clients with speedy, concise and predictable services that will significantly reduce their cost of risk.”

Palmer has written for both Lloyd’s of London syndicates and London based companies throughout his career.

His underwriting experience covers most trades, occupations and territories with a focus on Central and South America in the last ten years, overseeing property referrals worldwide.

Specialty MGA is backed by Specialty Management UK which has interests in other insurance entities including MGAs, insurtech and a Lloyd’s broker.