New specialist MGA launches in UK with two capacity providers

A new specialist indemnity MGA has officially launched in the UK.

Called Elmlake Underwriting, the firm went live on 23 December 2024 and offers a range of products for financial lines clients.

This includes professional indemnity (PI), employers liability and public and products liability.

The firm was launched by Darren Galloway, who serves as managing director, and Kevin Fell, who holds the position of director.

Galloway told Insurance Times that his firm was currently targeting micro and small and medium-sized businesses and that the MGA was partnering with new brokers daily.

He also said support for the launch “had been fantastic”.

“We’ve really hit the ground running,” Galloway added.

“We’ve had quite a lot of inquiries come in since we went live and we’ve actually bound a few risks already.”

Growth plans

The MGA is backed by A-rated insurer partners, with capacity providers including MS Amlin and Scor.

The firm can write up to £10m for employers liability and £5m for PI and product liability cover.

Galloway said Elmlake was looking at covering other lines of business in the future and expanding its capacity provider panel.

“We would like to expand our offering in terms of what we provide,” he said.

“I would like to provide some management liability and directors and officers (D&O) cover in the future. I’d also like to offer some office package type cover to sit alongside the PI that we do.

“Certainly as we grow, I’d like to have more than two markets on board. It gives you some more flexibility for the future.”

Galloway said his firm was targeting £1m to £1.5m in gross written premium in the first year, with him hoping to increase this to between £5m and £7.5m in the next three to five years.