Specialist Risk Group (SRG) has expanded its managing general agent business MX Underwriting with the addition of The Medical Professional Liability Company (The MPLC).
“Building a market-leading MGA capability remains a key element of SRG’s strategy,” SRG group chief executive Warren Downey said in an emailed release. “So, we are delighted to welcome The MPLC, as we continue to build an underwriting team of technical capability and expertise.
“MX goes from strength to strength under the leadership of Ian Cook, providing our broker and capacity providers access to a brilliant team of underwriting professionals.”
Launched in December 2021, MX Underwriting is nearing its target of handling £100 million in gross written premium.
Through a network of UK and international brokers, The MPLC provides medical professional liability insurance and reinsurance solutions to a wide range of clients. Based in Gibraltar and London, the specialist provider has been operating for more than two decades.
“The MPLC is delighted to join SRG and MX Underwriting,” commented The MPLC founder and managing director John Young. “The MPLC shares the same cultural values and a commitment to service excellence. The MPLC will continue to provide our brokers and healthcare clients with a client-focussed service. Access to MX Underwriting wider product lines and SRG resources will enable The MPLC to enhance our products, service, and offering to our UK and international healthcare clients.
“The MPLC’s focus on underwriting a profitable business portfolio on behalf of the Lloyd’s syndicates, which have supported us for over 20 years, remains at the heart of our longstanding commitment to providing underwriting and claims management expertise. By joining forces with SRG, we remain committed to delivering excellence across the international medical professional liability industry.”
SRG deputy group CEO Lee Anderson, meanwhile, pointed to the significant value The MPLC will bring to MX Underwriting.
“The MPLC is a great fit with MX Underwriting, providing us with a new underwriting specialism across international medical professional liability,” he highlighted. “John Young, Matthew Sawyer, and the underwriting and claims teams are highly respected underwriters, claims managers, and true specialists in their expertise. They will add significant value to the MX team as we continue to scale and build our underwriting capability both in the UK and internationally.”
Financial terms of the acquisition were not disclosed.
