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Connect Underwriting, a specialist reinsurance MGA, has formed BRICS UW, a new MGA designed to provide reinsurance capacity to emerging markets.

The launch is part of the company's strategy to serve as a gateway for international reinsurers seeking access to the London market.

It currently awaits regulatory approval.

The new MGA will focus on offering quota share reinsurance across traditional lines such as property and engineering.

It aims to provide London and global reinsurance brokers with a streamlined framework for dispute resolution, prioritising ease and accessibility.

Additionally, BRICS plans to collaborate with London-based international markets for cross-border distribution.

ConnectUW Holdings chief commercial officer Ahsan Abdul Majid will lead BRICS UW.

With more than two decades of experience in emerging markets, Majid brings expertise in managing emerging risks.

He joined ConnectUW Holdings in 2023, following his tenure as executive vice-president at Gallagher.

BRICS UW will operate using a shared resources model, drawing support from various units within the Connect Group, including Connect Underwriting, Stability Risk and GBN Risk Solutions.

This collaborative approach is expected to enable the MGA to utilise the group’s collective underwriting expertise.

Connect Underwriting CEO and chief underwriting officer Jamil Elbahou said: “As the world’s geopolitical focus shifts dramatically to the east, now is the opportune time to bridge the gap between east and west.

“BRICS is a diverse and versatile underwriting business that will give quality emerging reinsurance markets the ability to grow on the international stage and act as a much-needed interface between London and international brokers and markets.”

In September 2023, Connect Underwriting set up the MGA Stability Risk UW, focusing on underwriting contingency, casualty, cyber and financial classes worldwide.

This move was in line with the company's strategy to concentrate on key specialist sections such as property, energy and political violence.

Furthermore, in December 2022, Connect Underwriting launched Pixel Re, a monoline reinsurance vehicle targeting property and downstream energy risks globally.

Pixel Re offers reinsurance for global risks on an excess-of-loss basis, dealing with attachment points starting at around $500m (£381.9m).

"Connect Underwriting debuts MGA for emerging markets " was originally created and published by Life Insurance International , a GlobalData owned brand.

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