Connect Underwriting Limited, the specialist reinsurance MGA, today announces the launch of reinsurance MGA BRICS UW (BRICS), subject to regulatory approval, which will provide capacity to emerging markets.
It will also act as a hub for international markets, enabling reputable emerging market reinsurers that do not have a presence in London to access London distribution and business rarely seen in their local territories.
BRICS further aims to offer London and international reinsurance brokers the comfort and expertise of a jurisdictional framework that is straightforward, accessible and swift in terms of a dispute resolution.
Initially offering quota share property, engineering and other traditional lines of business, BRICS will additionally look to partner with internationally focused London markets to create cross-border distribution opportunities.
Ahsan Abdul Majid, chief commercial officer for ConnectUW Holdings, been appointed as head of the new MGA. He brings more than two decades of emerging-market experience and is very well known in the emerging risks marketplace.
BRICS UW will operate on a shared resources model and Ahsan will be supported by various units within the Connect Group, drawing on the diverse underwriting capabilities of ConnectUW, Stability Risk and GBN Risk Solutions.
Jamil Elbahou, CEO and CUO of Connect Underwriting said: “As the world’s geopolitical focus shifts dramatically to the east, now is the opportune time to bridge the gap between east and west. 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.”