Bridgehaven Insurance, the hybrid fronting insurer, will serve as capacity provider alongside Accredited on a new co-insurance arrangement with Policy Expert, the UK personal lines managing general agent (MGA).
According to the announcement, the agreement with Bridgehaven will last for two years, complimenting the firm’s existing six-year program management agreement signed with Accredited.
The addition of Bridgehaven supports Policy Expert with the diversified capacity required to support the launch of its pet product.
From what we understand, the agreement is expected to last until 2026. The targeted capacity that’s set to be provided by Bridgehaven over the period is expected to be £500 million in gross written premium.
This announcement follows a notable year of growth for Policy Expert in home and motor insurance. In September, the firm secured new backing from international private equity firm Cinven to support its expansion plans and broader growth strategy.
“We are so pleased to have Bridgehaven join Accredited in providing us with capacity for the next stage of growth. The addition of Bridgehaven alongside Accredited gives us a strong platform as we grow our existing products and launch into new product lines,” commented Steve Hardy, Executive Chairman of Policy Expert.
“We are delighted to agree this multi-year deal that delivers Policy Expert with a firm foundation from which to launch growth initiatives. Our market-leading hybrid-fronting model, financial strength supported by excellent rated reinsurers, provides our customers with certainty and transparency, allowing them to grow with confidence,” said Paul Jewell, Chief Executive Officer at Bridgehaven.
“We are excited to be part of Policy Expert’s continued growth journey having been a capacity partner since 2022. Through this new co-insurance arrangement, we can further support Policy Expert’s existing market leading position as well as its future development within UK personal lines, including into new areas such as pet,” added Stuart McMurdo, President of Accredited UK and Europe.
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