AXA partners with Gresham Underwriting in new capacity deal

AXA Insurance and Gresham Underwriting (GUL), the MGA arm of the Tasker Insurance Group, have entered into a three-year partnership under which AXA will provide £20m of capacity.

17 April 2018

Posted in Innovation

by Leigh Jackson (see media contact)

  • AXA and Gresham sign three-year partnership deal
  • AXA will provide £20m capacity
  • Deal coincides with introduction of new products to Instant Quotes broker platform

AXA Insurance and Gresham Underwriting (GUL), the MGA arm of the Tasker Insurance Group, have entered into a three-year partnership under which AXA will provide £20m of capacity.

Under the agreement, AXA will provide support on existing GUL product lines in conjunction with the introduction of new AXA-backed products via Gresham’s Instant Quotes broker platform. The first of these new products will be live within three months adding to the 18 products already available on the platform.

The deal is further evidence of AXA’s appetite for partnerships with MGAs providing high quality service to the broker market whilst delivering a strong underwriting performance.

“Over the past 12 months, Gresham has introduced new risk assessment and selection methodologies which gives us the confidence they will continue to deliver on their underwriting results and we look forward to working with Gresham to develop these improvements further.

“Both AXA and Gresham have an appetite for growth and we look forward to developing new products and exploring new markets in partnership with the Gresham team.” [John Heaney, Director of Schemes and MGAs, AXA Insurance]

“This is an exciting time for Gresham as we look to rapidly move the business forward. To have the support of a partner of AXA’s standing helps this process greatly. Having a carrier portfolio of the existing Lloyd’s syndicates alongside company market capacity, provides us with an excellent platform for growth. We are delighted to be partnering with AXA as we move to the next stage of our evolution. [Rob Munden, Chief Underwriting Officer, Gresham]

AXA currently provides capacity in excess of £100m through a range of MGAs.