Portus Underwriting will help brokers to get access to the Lloyd’s market

Stride Insurance Group has launched a new managing general agency (MGA) facility, Portus Underwriting, for property owners’ insurance.

The capacity is provided by Syndicate 2007 at Lloyd’s, backed by underwriting specialist Novae. The deal will enable the wholesale broker to become an approved Lloyd’s coverholder.

Stride Insurance Group property account manager Stuart Piper said: “The general perception in the industry is that you pay a premium for quality policy wording.

“Portus Underwriting is good news for brokers as it offers high quality composite wording at a competitive rate, backed up by the standards of service we have built our name on.”

Novae Group unit head of European property Stuart Heath said: “We are delighted to be working with Stride Group to support Portus Underwriting and it’s great to see the scheme up and trading.

“Stride is a successful and professional wholesale operation that will bring business into Portus from its broker clients. Portus will offer solid cover at a competitive rate and the product will be supported by the service Stride is famous for.”

Woodgate and Clark has been appointed as loss adjusters to the scheme and claims will be handled in-house by the Stride claims team.