Specialist Risk Group (SRG) announced the launch of MX Underwriting. Led by Lee Anderson, SRG deputy CEO, and James Gerry, MX chairman, MX aim to be a £100 million gross written premium business within its first year of trading.
Since its inception in January 2020, SRG has acquired 10 businesses, including specialist MGAs GB Underwriting, CLS Risk Solutions and Blackrock Insurance Solutions. These three businesses now come together with LIME Insurance to create the foundations of MX Underwriting, which has ambitious plans to grow both organically and through the acquisition of specialist MGAs.
SRG also announced that MX Underwriting will be able to provide solutions to broker partners and clients across the EU, which will enable SRG to scale both its UK and European MGA operations.
Specialist Risk Group’s current MGA businesses will continue to trade under their existing brands. It is planned that these brands will trade as MX by the end of 2022.
“Since we launched Specialist Risk Group, it has always been a major goal to have our own specialist MGA. I am therefore thrilled that we have delivered on this goal at such an exciting time. MX Underwriting is a dynamic, people-focused and data-driven business, led by highly experienced and specialist underwriters,” commented Anderson.
“Today, we bring together a group of over 65 outstanding underwriters and insurance professionals, who are passionate about what they do, who care about their brokers and clients and share the ‘core values’ upon which we will grow,” he added.
“MX Underwriting enters the market by already placing significant GWP through our existing underwriting capability. We look forward to building upon this success, by welcoming new people and teams who want to be part of our exciting business.”
About Specialist Risk Group
Specialist Risk Group (SRG) is a group of insurance intermediaries that arrange specialist insurance for more than 45,000 end corporate and individual policyholders operating in the UK and internationally. SRG is owned by its management team and HGGC, a middle-market private equity firm based in Palo Alto, Calif.
Source: Specialist Risk Group (SRG)
Topics Underwriting Insurance Wholesale
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