Bridgehaven and Alchemy Underwriting team up to launch professional risks unit

Bridgehaven Insurance and managing general agent (MGA) Alchemy Underwriting have teamed up to launch a professional risks unit.

A statement released yesterday (11 January 2024) said that the unit would provide a range of professional indemnity insurance solutions.

It will be led by Ian Bowler, who is the chief executive of Alchemy’s professional risks arm.

Paul Jewell, chief executive of Bridgehaven, said: “This partnership between Bridgehaven and Alchemy is a significant milestone for both companies.

“The launch of a professional risks unit, led by Ian Bowler, brings together a team that is professional and highly experienced and we are pleased to support them with their ambitions.”

Capacity

Founded in 2023, Bridgehaven is the UK’s first risk-taking fronting insurer in commercial and specialty lines.

The company aims to build a resilient insurance chain by promoting collaboration among MGAs, insurers and reinsurers.

The partnership with Alchemy was announced after Bridgehaven said it was teaming up with Avid Insurance to provide property excess of loss insurance solutions for registered providers of social housing earlier this week (8 January 2024).

Its new deal with Alchemy will see them align capacity to meet the needs of insureds through both primary and excess of loss products.

Richard Housley, chief executive of Alchemy, said Bowler’s experience would be key to the partnership.

“With over 30 years’ experience in professional risks, Ian has an outstanding reputation in the market,” he added.

”Combining this experience and our alliance with Bridgehaven is a key development in helping us to deliver a broader product offering of professional indemnity solutions to our clients.”