Specialist Risk Group’s MGA, MX, Agrees to New Long-Term Capacity Arrangement

June 13, 2024

Specialist Risk Group, the London-based insurance intermediary, announced that its managing general agent, MX, has agreed to a new capacity agreement with program manager Accredited Insurance (Europe) Ltd. (AIEL).

AIEL is supported by a panel of “A” rated reinsurers, said SRG, explaining that the partnership provides MX with significant improvements in its capacity across the UK and Ireland.

Launched in 2021, MX’s new capacity model ensures stability and scalability for its business. It empowers MX to pursue growth opportunities while maintaining its underwriting integrity and consistency.

Accredited has licenses throughout Europe, which will enable MX to explore new products and territories while expanding its underwriting capabilities and trade appetite.

MX will be engaging with its broker network to discuss the benefits of the new capacity arrangement and how it enhances the overall proposition for stakeholders.

The long-term commitment from Accredited provides stability and reliability for MX, according to Warren Downey, SRG Group CEO, in a statement. “This new deal enables MX to increase its underwriting firepower allowing for higher limits and broader trades. It also provides enhanced flexibility for adding new products This is a significant development for MX, and we welcome the opportunity to speak with people and businesses eager to be part of this growing and exciting MGA within the market.”

Colin Johnson, CEO at Accredited Europe, commented: ”We are delighted to expand our relationship with MX. Having worked well with the MX team in Ireland for the past few years, we now regard them as a key partner to Accredited and our new and improved capacity contract across both the UK and Ireland evidences our commitment to their products, service and ambitious growth plans. We look forward to an exciting future together. (Accredited is a subsidiary of R&Q Holdings).

Source: Specialist Risk Group

Topics Insurance Wholesale

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