London-based managing general agent Ventis, which began trading in the UK in January, has expanded into the Irish market.
In Ireland, Ventis will offer its underwriting capacity through an exclusive distribution agreement with Specialist Risk Group’s The Underwriting Exchange (TUE). The partnership will enable Irish brokers to access the real estate MGA’s capacity for mid-market risks of up to €40 million in sum insured.
Lifting the lid on the move, Ventis chief executive Gareth Roberts (pictured) cited the need in Ireland for his camp’s offering.
“Many brokers in the Irish property insurance market have been struggling to find insurers who can deliver quality service,” he asserted.
“In the nine months since launching Ventis, we have built a reputation in the UK as a firm that provides exactly that, and now we are bringing that proposition to the Irish market.”
The CEO also pointed to the opportunity to leverage TUE’s broker network to serve Ireland’s mid-market property sector.
Commenting on the partnership, Specialist Risk Europe chair Stephen O’Connor noted: “Adding Ventis to TUE’s panel of underwriting partners will allow us to access the property market at a higher level than we have covered previously.
“We are looking forward to working closely with the Ventis team as our exclusive partner in this area to deliver the best service for our broker partners and bolster our offering in the property sector.”
Ventis will operate in Ireland through its newly established office in Dublin, which is manned by underwriter Suchitra Ramakrishnan.
The MGA writes medium-sized property risks and offers cover extensions spanning buildings, loss of rent, employers’ liability, property owners’ liability, terrorism, and optional legal expenses.
“We provide flexible underwriting services to the same high standards as the major players but are committed to investing in broker relationships and giving them easy access to underwriters, as well as rapid service delivery,” Roberts highlighted in January.
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