Specialist reinsurance managing general agent Connect Underwriting, part of parent company ConnectUW Holdings, has announced the formation of BRICS UW.
Pending regulatory approval, the new reinsurance MGA is set to provide capacity to emerging markets and serve as a gateway for international reinsurers looking to access the London market.
The MGA will also focus on providing London and global reinsurance brokers with a streamlined and efficient framework for dispute resolution, emphasising ease and accessibility.
Initially, BRICS will offer quota share reinsurance across traditional lines such as property and engineering. It also plans to collaborate with London-based international markets for cross-border distribution.
Heading the new MGA is Ahsan Abdul Majid (pictured), chief commercial officer of ConnectUW Holdings, who brings over 20 years of experience in emerging markets. He is widely recognised for his proficiency in managing emerging risks.
Majid, a former Gallagher executive vice president, came on board in 2023 following the establishment of ConnectUW Holdings to serve as an umbrella firm amid ongoing expansion.
BRICS will leverage a shared resources model, with Majid receiving support from various units within Connect Group, including Connect Underwriting, Stability Risk, and GBN Risk Solutions. This approach will allow the MGA to draw on the group’s collective underwriting expertise.
Connect Underwriting chief executive and chief underwriting officer Jamil Elbahou highlighted the strategic importance of BRICS in today’s shifting geopolitical landscape.
“As the world’s geopolitical focus shifts dramatically to the east, now is the opportune time to bridge the gap between east and west,” Elbahou said.
“BRICS is a diverse and versatile underwriting business that will give quality emerging reinsurance markets the ability to grow on the international stage and act as a much-needed interface between London and international brokers and markets.”
What do you think about this story? Share your thoughts in the comments below.
