Avid Insurance, a specialist managing general agent (MGA), has expanded its workforce by 20% with six new hires, including four underwriters in its construction division, to support its growth objectives.
Avid, which focuses on social housing, travel, construction (through IIGL), motorsport, and equine liability, announced that it aims for a 15% increase in gross written premium (GWP) to £80 million this year, along with double-digit EBITDA growth due to continued expansion across all its business lines.
Stephen Gibson (pictured above), CEO of Avid, announced that the company has hired four experienced construction underwriters. Two of them, Zarrar Tariq and Adrian Sanderson, have joined IIGL as regional underwriters to handle construction risks.
Gibson highlighted the need to strengthen the company’s regional presence beyond London and the South East, with Tariq based in Birmingham and Sanderson in Leeds. He expressed high expectations for accelerated growth in these and other regional areas.
Additionally, Paul Turner and Jake Rose, both with significant experience in the construction sector, will continue to support the South East operation while assisting in regional expansion efforts.
Gibson explained that IIGL specialises in roofing and scaffolding liability, a sector traditionally seen as high risk. However, the company's detailed and robust underwriting approach, supported by significant investment in data analytics, has positioned IIGL as a market leader, producing the required returns for its capacity partners.
“Our underwriters live and breathe construction; they are seasoned experts. Combining that knowledge with support from our data operation will further enhance our market presence in this class,” he said.
James Clewes has also joined as group head of compliance after six years at MoneySuperMarket and seven years at Think Money. Clewes will focus on regulatory activities associated with being a leading MGA.
Scott Boyle, who joined Avid last year as group claims and complaints manager, will oversee all claims operations. Boyle brings significant experience from his previous roles at Markerstudy, Davies Group, and in the London Market.
“We remain on the lookout for experienced underwriting talent, especially in niche classes that fit our business model,” Gibson said.
"Avid is primarily an underwriting-led MGA. We have combined our deep underwriting expertise with substantial investment in analytics tools, delivering the profitable growth our long-term partners seek,” Gibson said.
The CEO reiterated that the firm remains focused on achieving £100 million GWP within the next 18 months, identifying travel, specialty housing, and construction as key growth areas. He anticipates increased demand for insurance in these sectors and plans to recruit more underwriters to meet this demand.
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