Global re/insurance trusted advisor, Pro Global Holdings Limited (Pro), has announced the incubation of ambitious environmentally focussed MGA, Tierra Underwriting Limited (Tierra), by its independent Managing General Agent incubator subsidiary, Pro MGA Solutions (Pro.MS). Tierra is a Managing General Agent (MGA) that underwrites on behalf of two Lloyd’s syndicates, Argo Syndicate 1200 and Ascot Syndicate 1414. Tierra provides underwriting services on behalf of each of these partners for credit insurance related to green project finance transactions.
Tierra now operates as an Appointed Representative under the FCA permissions of Pro MGA Solutions who provide regulatory oversight, compliance and back office services.
Danny Maleary, CEO of Pro MS, said:
“As an independent MGA incubator platform, we are known for our ambition to provide a unique, innovative and entrepreneurial environment for underwriters – particularly those with a strong focus on green underwriting where Pro.MS can provide the perfect springboard for growth.
We are delighted to have entered into this agreement with Tierra who are developing a strong reputation in the credit insurance and renewable energy banking markets.
Over the last year we have been embracing global growth and as we head into 2022, we expect to see this success continue as we remain laser focused on being the partner of choice for a broad range of insurance providers.”
Andrew Beechey, Managing Director at Tierra, commented:
“Tierra is a company of dedicated individuals who are passionate about environmental issues and we are fully committed to supporting transactions that benefit the planet. We set up Tierra in response to a need for credit insurance capacity dedicated to supporting green project finance transactions.
This partnership with Pro.MS will allow us to provide a full-service underwriting platform to our clients and will help us to take the next steps in our exciting growth plans.”