Movo Partnership’s managing general agent (MGA), Moveda Underwriting, established in May, has recently commenced operations with the support of capacity providers AmTrust and Irwel, aiming to enhance the options available to the independent broking sector.
In recent years, MGAs have become increasingly important for brokers, particularly for addressing the specific needs of smaller, independent brokers. As part of its establishment, Moveda seeks to fill a market gap by offering a wider range of choices and customised policy wordings, especially in the more challenging segments of the SME market.
Since its inception, Moveda has expanded its team and developed a suite of commercial combined, property, and liability insurance solutions, with coverage limits of up to £5 million. The MGA has acquired £5 million of capacity from AMTrust, rated “A,” and Irwell, rated “B++.”
These capacity providers align with Moveda's mission to provide distinct value to independent brokers. This alignment is based on a combination of quality insurance products, technological innovation in underwriting, skilled personnel, and exceptional service.
“The goal of Moveda is to provide independent brokers with specialist products built on market-leading expertise and service. We will achieve this by creating trust between ourselves, brokers, and capacity providers. It’s off to a great start, already on the way to achieving its first-year trading target of £1.5 million GWP, thanks to our bespoke products, backed by high-rated financially secure insurers, and delivered by a growing team of talented underwriters harnessing advanced policy administration technology,” Movo managing director Lea Cheesbrough said.
In other recent developments, Movo has also celebrated its £100 million gross written premium (GWP) milestone well in advance of its projected year-end target, marking a notable achievement for the network.
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