DA Strategy has announced that Crux Risk Services (Crux), a new managing general agent (MGA) specialising in terrorism underwriting, has been approved by Lloyd’s as a coverholder. Crux launches with an initial line size of $100 million, led by Chaucer, and brokered by BMS.
DA Strategy provided Crux with Appointed Representative licensing, enabling the MGA to target alternative distribution in the UK and US, with plans for international expansion. Crux operates on Azur Technology’s award-winning platform, which allows brokers to quote, bind, and manage policies in real-time.
The company was co-founded by Graham Elliott, Mike O’Connor, Rob Dimsey, and Yvonne Costello, all alumni of Ascot Underwriting. This is Crux’s first cell, with plans to expand its specialty business in London.
Mike O’Connor, chief underwriting officer of Crux, highlighted the benefits of the platform, stating, “The combination of a large, aggregated line size and a modern cloud-based straight-through-processing system gives Crux the ability to deliver best-in-class user experience and efficiency to both its brokers and markets, cutting the time taken to bind business from days to minutes.”
Charles Rowley, CEO of DA Strategy, expressed his excitement about the launch and said: “This exciting venture has taken extensive collaboration, hard work, and unwavering dedication from both teams to bring it to life. Strategically designed with international scalability firmly in mind, Crux is poised to make a significant impact in the Terrorism market.”
DA Strategy is a group of professionals focused on helping carriers, brokers, and MGAs in managing their delegated underwriting business. They provide services including MGA design and build, Delegated Authority processes implementation, strategic reviews, outsource offerings, and expert advice on regulatory and operational best practices.
Have something to say about this story? Leave a comment below.
