Following on from its £20 million three-year partnership with Gresham Underwriting earlier this year, AXA has further expanded its UK footprint by forming a three-year partnership with Origin UW. The partnership fits into AXA’s growth strategy in the schemes and MGA space and will provide Origin with £30 million of capacity over products across three business lines: property, casualty, and motor trade.
Products for property and casualty will launch in December, while motor trade will launch in January.
Expansion in schemes drove AXA to seek the deal, according to Brendan Clark, head of sales & marketing – delegated authorities, at AXA Insurance.
“Commercial lines is a crucial part of AXA Insurance’s business and over the past 12 months we have had a strong focus on bringing new propositions to the broker sector,” said Clark. “Central to this has been strengthening our links in the schemes and MGA space.
“We have been keen to find new partners and Origin shares our ambition for growth in this area. We are delighted to be partnering with Origin on their new products and are looking forward to launch.”
According to Dawn Henderson, managing director at Origin, AXA’s strong brand recognition and shared values are characteristics that Origin hopes to leverage.
“Origin UW are delighted to enter into this exciting partnership with AXA,” said Henderson. “AXA are recognised as a world class brand and underwriting business and share many common values with Origin.
“Origin being a service-led MGA have been looking for a partner to support our underwriting and operational strategy and AXA are an ideal partner for us.
“This deal not only provides first class capacity for the business but also supports our ongoing vision for the business, which includes the delivery of new commercial products designed to create more value and more opportunity for our broker customers"
AXA currently provides capacity in excess of £100 million through a range of MGAs.
