A new real estate managing general agent (MGA) is set to launch in January 2024, a statement released yesterday (12 December 2023) said.
Called Ventis, the firm will target small to medium-sized property risks and aim to fill “unloved gaps in the property market” up to and beyond £100,000.
It will be led by Gareth Roberts, who previously managed Covéa’s mid-market specialist and network division as senior regional manager.
And data-driven risk exchange Accelerant has agreed to provide long-term capacity for Ventis.
Accelerant cofounder Chris Lee-Smith said that his firm was ”excited to see what opportunities Gareth and team will unlock for the UK property market”.
“We are big believers in the MGA model,” he added.
“And our commitment is to provide entrepreneurial MGAs with the capacity and tools they need to succeed.
“We’re excited to see what opportunities Gareth and team will unlock for the UK property market.”
Support
The launch will also be supported by Mission Underwriters – a US private equity firm which works to help underwriters create and manage their own specialist insurance MGA.
It was established in February 2021 and, according to its website, has over $4.3bn (£3.4bn) of capital under management.
Chief executive Adrian Morgan said that Roberts and his team have a “laser focus, not only on underwriting in more neglected corners of the SME and mid-size property market, but also on delivering same day personal service to their brokers”.
“Our remit is to provide long-term capacity along with regulatory, compliance and back-office support to winning teams of talented underwriters with a drive to find and fill gaps in provision within major insurance markets,” he added.
