Brit creates $560m US MGA through BGSU and Ambridge merger

Specialty re/insurer Brit is merging its US service company operation Brit Global Specialty USA (BGSU) and its managing general underwriter Ambridge to create a single MGA managing more than $450 million in premium in the US and a further $110 million written by international affiliates.

The combined entity will operate as Ambridge Partners and trade through three segments: Ambridge Transactional (consisting of D&O, IP liability, reps and warranties, special situation contingency, and tax), Ambridge Specialty Casualty (including cyber, excess casualty, general liability, professional lines, construction professional, and public entity non-profit), and Ambridge Re (consisting of casualty reinsurance, political violence, and property FAC).

BGSU’s products will be distributed through Ambridge and sit alongside Ambridge’s existing market products in transactional insurance, complex management liability and intellectual property. BGSU’s programmes team will write directly into Brit Syndicate 2987.

Ambridge will be led by Jess Pryor as executive chairman. He will also continue in his role of executive chairman of Scion, which will remain a stand-alone MGA business, headquartered in Dallas, Texas and led by Scion President, Scott Brock.

Brit first made a strategic investment in Ambridge in 2015 and acquired its full ownership in 2019.

The re/insurer said this move will provide the combined underwriting teams increased flexibility and greater opportunities to grow premium while broadening their product offerings.

Pryor commented: “We believe that there is compelling rationale in bringing these two businesses together, creating a single, scale MGA under the highly regarded Ambridge brand. At a time when market conditions continue to improve, it will give our underwriting teams the ability to respond to opportunities and empower a more entrepreneurial approach.

"Our clients and broker partners across both businesses will experience no change in their products or underwriting teams, however it will enable a greater focus on service, making it easier for them to engage with an enlarged set of products offered under the Ambridge brand. We are excited about the opportunity to bring the two teams together."

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