Connect Underwriting Limited, a specialist reinsurance MGA, has launched BRICS UW, a reinsurance MGA focused on emerging markets, pending regulatory approval.
BRICS will provide capacity to these markets and serve as a hub for international markets. It aims to help reputable reinsurers from emerging markets, without a London presence, access London distribution and business typically unavailable in their regions.
BRICS plans to offer reinsurance brokers in London and internationally a clear and efficient framework for dispute resolution. Initially, it will provide quota share property, engineering, and other traditional lines of business. BRICS will also seek partnerships with London markets to develop cross-border distribution opportunities.
Jamil Elbahou, CEO of Connect Underwriting, highlighted the strategic timing, emphasizing BRICS’ role in fostering growth for emerging reinsurance markets and building a bridge between east and west markets for brokers and reinsurers.
BRICS is a diverse and versatile underwriting business that will give quality emerging reinsurance markets the ability to grow on the international stage and act as a much-needed interface between London and international brokers and markets.
Jamil Elbahou, CEO of Connect Underwriting
Ahsan Abdul Majid, with over two decades of experience in emerging markets, will lead the new MGA as head. He will be supported by ConnectUW Holdings and additional resources from ConnectUW, Stability Risk, and GBN Risk Solutions.
Connect Underwriting is a London based managing general agent “MGA”, regulated by the FCA and accredited as a Lloyd’s Coverholder, underwriting on behalf of Lloyd’s and other first class securities. MGA underwrite a Worldwide book of Property, Energy, War & Terrorism business on a FAC XOL basis.
by Yana Keller
