The Vibe group of companies has launched Vibe MGA Management Ltd (Vibe MM) to support insurance entrepreneurs through an independent MGA incubator business.
Vibe MM chief executive Danny Maleary said they will focus on applying innovation to achieve what he calls ‘end game’ capital event for their MGA clients. “We have already secured diverse MGA clients on to our platform and aim to build our portfolio into a global offering,” he said.
Meanwhile, Terry Wheatley has been appointed as Vibe MM non-executive chairman. Wheatley joined Vibe MM on June 01, bringing with him 15 years of MGA experience. He was also involved in global speciality reinsurance and served as an underwriter at Lloyd’s.
“New MGA creation is continuing to grow quickly. The shift in the UK landscape to a more nimble, specialised, and efficient risk accumulation model is here for the foreseeable future,” said Wheatley.
The formation of Vibe MM is a complementary business overseen by the parent company, according to Dinah Gately, Vibe MM director and CEO of Vibe Syndicate Management. Vibe MM will trade alongside Vibe Syndicate Management and Inceptum Insurance Company.
MGA incubators provide specialist services and an operational platform for new and developing MGAs to help them establish themselves and grow their businesses.
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