Aqueous Underwriting has secured major new capacity following the signing of an initial three-year deal with insurer Allianz Insurance.
The move is part of the MGA’s plans to significantly grow its presence in the commercial SME market where it specializes in the professional indemnity and SME package (food, hospitality, leisure, and hotel) sectors.
The new binder agreement is active for all broker submissions incepting from 1st April and increases Aqueous’ available capacity by around 70%.
The partnership with Allianz marks a significant milestone in Aqueous’ development, Aqueous said, noting the partnership also comes with the added benefit of access to Allianz’s award-winning and service-focused claims service which has received an “Outstanding” Service Quality Marque from Gracechurch.
“Aqueous is a leading light in the SME insurance market, with its combination of inhouse technical knowledge, market relationships and agile approach to product development having already proved itself as a winning formula for brokers,” commented Helen Bryant, director of Digital Trading, Allianz Commercial.
“We are excited to be providing capacity to the team at Aqueous as we look forward to growing in this market together,” she continued.
“We are delighted to have been able to secure the support of Allianz – a powerhouse in the insurance market – a new partnership that marks a major, and important step on our journey,” said Tom Hill, head of E-Trade, Aqueous Underwriting.
“Our mission has always been to develop long term relationships with sustainable partners and this deal with such a prominent, stable, well-respected, and recognisable brand provides us with clear differentiation in our chosen market,” Hill added.
London-based Aqueous Underwriting is a trading name of Aqueous Management Ltd., an appointed representative of Davies MGA Services Ltd., a company authorized and regulated by the UK Financial Conduct Authority.
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