Global re/insurance adviser Pro Global Holdings Ltd. announced the incubation of environmentally focused managing general agent, Tierra Underwriting Ltd., by its independent managing general agent incubator subsidiary, Pro MGA Solutions (Pro.MS).
Launched in 2016, Tierra is an MGA that underwrites on behalf of two Lloyd’s syndicates: ArgoGlobal Syndicate 1200 and Ascot Syndicate 1414. Tierra provides underwriting services on behalf of each of these partners for credit insurance related to green project finance transactions.
Under the new partnership, Pro MGA Solutions will support Tierra’s next phase of growth by providing regulatory oversight, compliance and back office services. Tierra now operates as an appointed representative under the FCA permissions of Pro MGA Solutions.
As an independent MGA incubator platform, Pro.MS provides “a unique, innovative and entrepreneurial environment for underwriters – particularly those with a strong focus on green underwriting where Pro.MS can provide the perfect springboard for growth,” commented Danny Maleary, CEO of Pro MS.
“We are delighted to have entered into this agreement with Tierra who are developing a strong reputation in the credit insurance and renewable energy banking markets,” he added. “Over the last year we have been embracing global growth and as we head into 2022, we expect to see this success continue as we remain laser focused on being the partner of choice for a broad range of insurance providers.”
“Tierra is a company of dedicated individuals who are passionate about environmental issues, and we are fully committed to supporting transactions that benefit the planet. We set up Tierra in response to a need for credit insurance capacity dedicated to supporting green project finance transactions,” according to Andrew Beechey, managing director at Tierra.
“This partnership with Pro.MS will allow us to provide a full-service underwriting platform to our clients and will help us to take the next steps in our exciting growth plans,” Beechey continued.
About Pro Global
Founded in 1993 as a run-off services provider, Pro Global now provides advisory, change consulting, outsourcing or auditing services as well as MGA incubation. With more than 600 staff around the world, the company has offices in London, New York, Cologne, Buenos Aires and Sao Paulo.
About Tierra Underwriting Ltd.
Tierra provides long-term credit insurance for individually selected green project finance transactions across the world.
Source: Pro Global
Was this article valuable?
Here are more articles you may enjoy.
US Judge Skeptical of Biden Overtime Pay Rule 
QBE to Non-Renew $500M of North American Mid-Market Biz 
Home Insurance at $10,000 a Year Shows California Buyers’ Pain 
Allstate, Nationwide Post Dramatic Q12024 Homeowners Loss Ratio Drops: S&P 
