Aventum Group’s managing general agent Rokstone has launched a sports & prize indemnity division with an exclusive facility from Allianz Commercial.
To be led by sports & prize indemnity chief executive Bradley Morrish (pictured above), the fully regulated insurance vehicle has the ability to write line sizes of US$20 million and above. Morrish, who comes from a sports betting exchange background, will be supported by football legend Gary Lineker’s son Angus (pictured below).
“The launch of Rokstone sports & prize indemnity is a classic example of Aventum’s unique Synergy model; designed for entrepreneurial underwriters or brokers to become substantial shareholders in a new Aventum subsidiary – whether under Rokstone or our global broking arm Consilium,” Rokstone CEO James Potter said in an emailed release.
“We have consistently outperformed the market over the past five years and grown organically through the establishment of new specialty lines subsidiaries, each focussed on a particular industry specialism or niche.”
Potter added: “Subsidiary management teams enjoy a substantial equity stake in these entities, and benefit from the group’s ‘plug and play’ Synergy platform, which provides access to leading operational capabilities. The group’s existing Synergy subsidiaries have quickly become market-leaders in their field.”
Synergy is Rokstone’s platform for those looking to run their own MGA business under Aventum.
Commenting on the launch, Morrish said: “Traditionally insurance in this market provides ‘contractual bonus’ cover which uses rudimentary pricing models that make policies financially prohibitive for most. This is an area that is often overlooked and misunderstood, representing a massive opportunity to grow profitably by combing the latest advances in sports analytics with insurance expertise. It’s the perfect marriage.
“I am thrilled to be part of Rokstone and to bring this disruption to the market. We’ve also partnered with Allianz Commercial’s risk transfer division, which speaks volumes about the strength of the proposition. Without a doubt this is a new dawn for sports and prize indemnity.”
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