MS Amlin, the London-based re/insurer, announced the launch of David Ashby Underwriting Ltd (DAU), a specialist equine MGA.
MS Amlin will serve as lead underwriter for the MGA and provide 50% of capacity for DAU through a joint venture with specialist insurer Hiscox, which provides the other 50% of capacity.
The MGA was formed following the buyout of MS Amlin’s equine book of business and renewal rights by David Ashby, former managing director and principal underwriter for Equine at MS Amlin. Ashby is now chief executive officer and chief underwriting officer of DAU, which began underwriting Jan. 1, 2020.
DAU will service MS Amlin’s existing livestock and bloodstock business through a purchase agreement, ensuring existing brokers and clients complete continuity of cover and service. It’s combined equine book, which will be focused on bloodstock, commercial breeding, rearing and racing, and equestrian across both sports performance and leisure horses, is expected to underwrite gross written premium of approximately £25 million (US$32.6 million) in 2020.
DAU is part of BPB Underwriting Management Ltd, a new MGA management agency, and will receive business support from Asta Underwriting Management Ltd.
“We are pleased to announce the launch of DAU, which is in line with our new underwriting strategy announced on Sept. 30. DAU’s strong book of business will enable MS Amlin to retain its participation in the equine insurance market by underwriting via an MGA,” said Tom Clementi, CEO of MS Amlin Underwriting Ltd. (AUL). “We look forward to continuing our working relationship with David Ashby, who has long established himself as a market-leading equine underwriter, and supporting him in this new venture.”
“I’m excited to lead our specialist bloodstock underwriting business and to have secured the ongoing support of MS Amlin, alongside new capacity provided by Hiscox,” commented Ashby. “The confidence BPB Underwriting Management has shown in our team’s underwriting expertise has ensured that our business is off to a flying start and I’m confident that 2020 will be a great success.”
MS Amlin is part of insurance group MS&AD Insurance Group Holdings, with operations in the Lloyd’s, U.K., Continental European and Bermudian markets.
Source: MS Amlin
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