Bridgehaven Insurance, a new insurer backed by private equity firm Flexpoint Ford, has entered the UK market to serve as a hybrid-fronting carrier with a focus on commercial and specialty lines.
In a release, Bridgehaven said it will act in the best interest of reinsurers and align with select managing general agents. The hybrid-fronting carrier is headed by chief executive Paul Jewell, who has more than three decades of industry experience.
Commenting on the launch following Prudential Regulatory Authority approval, Jewell stated: “We are tremendously excited about the potential of our model. Bridgehaven is here to redefine the UK insurance landscape through meaningful, collaborative partnerships with insurers, MGAs, and reinsurers.
“The hybrid-fronting model grants MGAs the freedom to focus on underwriting exceptional insurance products, while reinsurers can depend on Bridgehaven to manage the underwriting process. In addition, having Flexpoint’s support will provide the capital and strategic advice needed to build a recognised provider in the UK insurance market.”
Flexpoint managing partner Chris Ackerman said a fronting solution for the UK specialty commercial insurance market is “much needed,” while managing director Dominic Hood cited the challenges and needs of MGAs and reinsurers and pointed to the independent solution to be offered by Bridgehaven.
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