“Broker only” commercial underwriting specialist Evolution Underwriting announced that it has “entered into an exclusive underwriting and distribution partnership with the Beazley Group.
Under the terms of the deal Evolution has been appointed to manage and develop Beazley’s professional indemnity portfolio for UK SME’s [small and medium sized businesses] through independent regional brokers across the UK,” starting in the third quarter of 2012. The arrangement will “allow Evolution’s select panel of brokers to access Beazley’s professional indemnity products via Evolution’s platform,” said the bulletin.
Beazley underwriter Colin Masson commented: “We are genuinely excited about this new partnership. Beazley has a wealth of specialty underwriting expertise and outstanding financial security. Evolution offers us the opportunity to deploy our PI product range to a wide range of independent brokers and give them the benefit of our approach. The technology and service offering that Evolution brings to the table complement our underwriting appetite and desire to grow our regional PI presence perfectly.”
Paul Upton, CEO of Evolution added: “It’s a huge boost for Evolution to be appointed to manage Beazley’s regional PI push through our independent broker panel. Our brokers are already used to the exclusivity, service, efficiency and flexibility of our model. To be able to expand our product range with such a respected name backing our PI product is great news. We are already talking to our brokers about helping them win and retain new business.”
Source: Evolution Underwriting and the Beazley Group
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