MGA Aqueous Obtains New Professional Indemnity Capability from Great American Int’l

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Aqueous Underwriting has secured increased capacity as part of plans to expand its presence in the UK professional indemnity insurance market in 2022. The specialist managing general agent can now offer cover for limits of up to £10 million (US$13.4 million), on a primary premium or excess diaper basis, or a combination of the two.

The increased capacity enables Aqueous to offer its brokers a one-stop-shop for their clients through the provision of more comprehensive programs, multiple layers of cover and stop-loss capacity for risks for which Aqueous is not the main supplier.

New excess layer capacity has been secured with the addition of Great American International Insurance (UK) Ltd. to Aqueous’ existing supplier base and follows a year of rapid growth. In 2021, Aqueous’ premium IP capacity nearly doubled, growing by 83%, from £15m ($20.1m) to £27.5m ($37m), where she is now.

The Aqueous PI book is currently focused on accounting, design and construction, architects and engineers, real estate professionals (estates, quantity surveyors, etc.), media and technology trades.

“This is an exciting development for Aqueous at a time when the IP market as a whole is suffering from limited capacity, with many vendors exiting the industry. Expanding our capabilities with the ability to write with a larger line size and higher income threshold has enabled us to offer our brokers an enhanced proposition for their clients,” commented Mark Ford, Director of the subscription.

“We now have five ‘A’ rated capacity funders, providing our brokers and their clients with a quality offering, which meets all their buying requirements in a one stop shop,” he added.

About Aqueous Underwriting and Great American

Based in London, Aqueous Underwriting offers professional indemnity cover to a wide range of professionals and SME package insurance to the food, hospitality, leisure and hospitality sectors. Aqueous Underwriting is a trading name of Aqueous Management Ltd., an appointed representative of Davies MGA Services Ltd., a company authorized and regulated by the UK Financial Conduct Authority.

Based in Bristol, England, Great American International Insurance (UK) Ltd. is a member of Great American Insurance Group whose roots date back to 1872 with the founding of its flagship company Great American Insurance Co. A member of Great American’s European division, Great American International Insurance (UK) is rated “A+” by Standard & Poor’s.

Source: Aqueous Subscription

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