Article ID: fdf5171b9bc8bde6ecb85c80d4d4b8076ccfb53ce1ae8bd4b0f3d35d5e28c757
Source ID: secondary:insurancetimes.co.uk
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’It’s exciting to widen our strategic relationship in this way,’ says chief executive MGA Jensten Underwriting has secured a new multiyear capacity deal with Zurich UK worth over £300m. The five-year placement provides capacity for cross-class property, casualty and motor. The MGA said the arrangement provides enhanced scale, financial strength and long-term stability. Jamie Lewis, managing director at Jensten Underwriting, said the move ”is a key milestone in our evolution as a virtual insurer”. ”We’re delighted to have secured this scalable, long-term commitment from Zurich, one of the world’s most trusted brands. For brokers and clients, this move provides even greater stability and security behind our products,” Lewis added. Robert Organ, group chief executive at Jensten, said: “Zurich is already one of our key partners, so it’s exciting to widen our strategic relationship in this way. ”A transaction of this scale and diversity at the current stage in our evolution under Bain ownership is a testament to the quality and credibility of Jensten Underwriting. It aligns and strengthens the confidence the market has in our underwriting capabilities, our people, our governance and, equally relevant, our ambition with one of the most trusted brands in the world.” Strong platform The news follows the recent announcement that Jaime Swindle will join Jensten later this year as the chief executive of product and distribution, the newly created division that Jensten Underwriting sits in. Read: Bain Capital completes majority purchase of UK broker Read: Jensten Group announces restructure and new c-suite roles Explore more MGA-related content here, or discover other news stories here David Nichols, head of retail at Zurich UK, said: ”In recent years, we have built a strong and trusted relationship with the team allowing us to accelerate our growth together. Jensten have developed a disciplined underwriting business with a clear focus on delivering for brokers and customers, aligning closely with our own commitment to supporting brokers and clients for the long-term. ”Bringing together Jensten’s underwriting expertise with Zurich’s scale and long-term commitment, we’re confident this partnership will create a strong and sustainable platform for growth.” His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism. He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile No comments yet
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