Specialist MGA secures new capacity deal

Managing general agent (MGA) Criterion Underwriting has secured a new capacity deal with hybrid fronting insurer Bridgehaven Specialty UK.

The partnership will see the insurer provide A-rated capacity to underwrite waste management and recycling risks.

It comes after Criterion launched in the UK with the help of MGA services platform OneAdvent in January 2024, with it looking to plug the “gap” in a “critically underserved recycling sector”.

Stuart Kinsella, underwriting director at Criterion, said: “In recent years the insurance market has struggled to meet the increasing demand and complexity of waste and recycling service providers.

“With the new Bridgehaven capacity we will address this need with significant line sizes and risk appetite, bringing new and responsive solutions to this complex and dynamic market.”

’Huge opportunity’ 

Founded in 2023, Bridgehaven is the first UK hybrid fronting insurer to bring capacity to the UK market for specialist MGAs.

The new collaboration marks the first such arrangement for OneAdvent’s platform MGAs.

Tim Quayle, chief executive of OneAdvent, said: “We are really excited by the opportunities the newly established UK hybrid fronting model presents to MGAs on our platform.

“This deal with Bridgehaven has brought new capacity to the waste management and recycling market to help Criterion differentiate itself. We hope this is the first of many fronted binders for our specialist MGAs.”

Paul Dilley, chief underwriting officer at Bridgehaven, added: “We see a huge opportunity with OneAdvent and are delighted to be supporting Criterion as they develop their specialist recycling insurance offering.

“We are on a mission to reshape the future of insurance and relationships like these are integral to delivering that.”