Casper Specialty UK Limited (Casper) will soon launch as a new casualty-focused MGA in the UK.
Casper, which means “treasurer,” was established this year, with headquarters in London. It will operate independently as a sister entity of Miller, a leading independent specialist re/insurance broker, with capacity support from Argenta.
The MGA will start writing business from March 1, 2023. It will be structured to write European business and underwrite a broad range of FI and professional lines. It also plans to underwrite a significant portfolio of casualty business.
Casper will be led by Bradley Knight, who has been in the industry for 36 years and has established himself as one of the most highly regarded casualty underwriters in the London market. Most recently, he was the deputy active underwriter and head of casualty insurance at Argenta.
At Casper, Knight will join the board as CEO after the business obtains regulatory approval. He will work closely with the following:
Commenting on the launch, Knight said he and his team expect the new business to become a proven underwriting partner for carriers, enabling them to access the opportunities these market conditions present.
“We’re hugely excited to launch Casper to the market. The casualty market is undergoing dynamic change as it looks to adapt to factors such as high inflation and a more challenging economic environment,” Knight said.
“As a newly formed MGA, we will also look to put data at the heart of how we do business, offering real-time access to our capacity partners [and] giving them greater visibility over business written and underwriting performance. We are also delighted to have agreed on a partnership with Argenta, building on the existing deep relationship. We look forward to beginning our growth journey with the support of our investors and market partners.”
Argenta group CUO Ian Burford commented: “We are delighted to support the launch of Casper and build on our existing relationships. Our multi-year partnership provides Casper with meaningful capacity for its programs. The Casper team’s proven expertise in the specialist casualty market is clear, and we look forward to working with them as they seek to build a high-quality and profitable portfolio, as well as further deepening our relationship with the wider Miller Group.”
