Insurance Times Awards 2023: Clegg Gifford’s Five Island Insurance boosts Channel Islands

Why did you want to enter the MGA Initiative of the Year category? 

Five Islands Insurance is the Channel Islands’ first dedicated local MGA licence holder.

This ground-breaking initiative by the GFSC – we hold the first specific MGA licence, as opposed to a general FCA intermediary one – aimed at generating local underwriting focus and seeking investment into the islands, which are usually treated as an overlooked extension of the UK.

What do you think makes your entry stand out and why should you win the award? 

Five Islands has brought localism back. Capacity is aligned to the local market and the risk appetite caters solely for Channel Islands residents.

We’ve had excellent feedback from brokers, who are pleased to be able to tap into a local underwriting team with a unique singular focus on the islands.

Whilst starting an MGA is extremely challenging, we’ve managed to start strongly and win over a tight-knit community with our brilliant team providing great underwriting and claims services.

We’ve brought capacity to the islands, driving competition locally and demonstrated that an MGA can be a real community stakeholder with a great local focus.

What would winning this award mean to you and your firm?

My team are a huge credit to the Channel Islands insurance industry and are brilliantly responsive, with a laser focus on supporting local brokers and their clients.

To win this award would mean the world to us. It was such a coup to gain the experienced people we did and to recognise them in this way, following such a successful launch, would be the cherry on the cake.