London-based IQUW’s portfolio solutions division is building on its presence in the US market by partnering with managing general agents (MGAs) that bring deep expertise and reliable data. The firm’s goal is to strengthen Lloyd’s syndicate capacity in underserved or specialist areas – by backing programs that can deliver both speed and discipline.
“There’s real opportunity in helping specialist MGAs scale with speed – especially when they’ve already got the expertise and the data to back it,” said George Connell, (pictured right) lead underwriter for structured solutions at IQUW.
Elisabeth Groehe (pictured left), lead underwriter for specialist risks, and Connell, co-lead IQUW’s Portfolio Solutions Division, which is charged with identifying MGA portfolios that complement the company’s broader Lloyd’s platform. “We’re especially targeting MGAs and other strategic portfolios that align with our appetite,” Connell said.
IQUW is moving away from the traditional “write-and-renew” approach once typical in delegated authority models. Instead, the company emphasizes active portfolio management throughout the first year of coverage.
“In previous years, companies would write a yearly portfolio, then renew it in the second year, and start to understand the loss pattern,” Connell said. “But we like to actively manage that portfolio and work with our clients during that first policy year as much as possible.”
The aim is to spot early indicators of performance issues – down to the subclass or subproduct level – and act before loss trends develop. “Even during that policy, we can try and see what’s driving increased loss ratio and start to action that earlier,” Connell said.
IQUW’s MGA strategy includes support for startups – provided they can demonstrate access to relevant data and market expertise.
“Where there is a significant amount of data, we can support new startups,” said Groehe. “But ideally, having some form of data makes it easier for us to review and be of help with diversified capacity.”
In sectors where historical data may be thin, IQUW leans on actuarial models and industry experience. “Even if they haven’t got data themselves, they’ve been in these markets for 10-15 years,” Connell said. “Using their expertise and our actuarial support, we can best pattern match.”
To uncover new opportunities, IQUW’s team is taking a proactive approach to broker and MGA engagement – both in the US and abroad. Groehe pointed to recent attendance at an MGA-focused conference in Amsterdam as one example of this outreach.
“We are going to these conferences to meet brokers that deal in this space,” she said. “To understand the need – and what business is being written that wouldn’t traditionally make it into the Lloyd’s open market space.”
Many niche or SME-focused programs remain underrepresented in Lloyd’s, not because of risk profile, but lack of access. IQUW sees an opportunity to change that through disciplined underwriting and a scalable operating model. Each partnership is supported by a cross-functional team of underwriters, actuaries, and analysts in line with Lloyd’s recent market messages.
Looking ahead, IQUW hopes to build a repeatable structure for identifying and backing high-potential MGAs – bringing Lloyd’s capital into overlooked markets and helping new players scale with confidence.
