Rokstone, the international specialty re/insurance managing general agent (MGA) under the Aventum Group, has entered into a three-year binding authority agreement with Aviva for its direct and facultative (D&F) property portfolio.
The agreement allows Rokstone to underwrite global D&F property business with limits up to $2 million per risk. The facility is expected to generate over $200 million in gross written premiums (GWP) during the three-year term.
This announcement follows closely after Rokstone secured a multi-year $5 million delegated authority facility for D&F property with Allianz Commercial. Additionally, Rokstone recently hired senior underwriter Ludo Araujo, who joined the specialty underwriting team from Chaucer Syndicates.
James Potter, CEO of Rokstone, said the new partnership with Aviva reflects the company’s growing position as a leading market.
“Our ability to underwrite as a lead market, now with delegated authority from a number of leading A rated markets including Allianz and Munich Re, is a ringing endorsement of our property team – a real statement of achievement for Rokstone. We continue to enjoy an enviable record of long term partnerships with our capacity partners, giving clients long term security and certainty,” Potter said.
Spencer Pimley (pictured above right), global DUA manager for Aviva Global, Corporate & Specialty, also noted that the deal represents a strong and balanced D&F property portfolio that complements Aviva’s efforts to expand its global property DUA portfolio.
Rokstone is a global MGA with operations in the UK, Europe, the U.S., Asia, Africa, and the Middle East. The company underwrites over $1.1 billion in GWP across several specialty lines, including property, power generation, marine, aviation, warranty, credit and surety treaty, agriculture, construction and engineering, accident and health, contingency, liability, and sports and leisure.
What are your thoughts on this story? Please feel free to share your comments below.
