New MGA goes live, here’s the word;
Moveda Underwriting, a new MGA set up by the Movo Partnership in May 2023, has officially gone live with capacity from AmTrust and Irwell, bringing more capacity and more choice to the independent broking sector.
MGAs have become increasingly vital to brokers in recent years. And yet there persists a gap in the market for an MGA that is focussed on the needs of smaller, independent brokers and delivering them a viable alternative to traditional insurers. Moveda closes this gap by providing more choice and bespoke wordings to brokers, particularly in more restrictive areas of the SME market.
Since it was set up in May, Moveda has grown its team, and developed a range of commercial combined, property, and liability solutions with limits of up to £5 million. It has secured £5 million of capacity from AMTrust (A-rated) and Irwell (B++ rated), both of whom share Moveda’s vision to differentiate and deliver more value to independent brokers through a combination of high-quality insurance, technology innovation, underwriting talent, and unparalleled service.
Speaking about the launch, Lea Cheesbrough, Managing Director at Movo said: “The goal of Moveda is to provide independent brokers with specialist products built on market-leading expertise and service. We will achieve this by creating trust between ourselves, brokers, and capacity providers. It’s off to a great start, already on the way to achieving its first-year trading target of £1.5m GWP, thanks to our bespoke products, backed by high-rated financially secure insurers, and delivered by a growing team of talented underwriters harnessing advanced policy administration technology.”
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