First Underwriting, the specialist product MGA, has announced the addition of a new Real Estate team and product range as part of their 5-year growth and expansion strategy.
First Underwriting is an established UK based MGA, providing market leading specialist products, including Specialist Motor, Home, Surety, Travel Bonds and Tour Operators.
Having experienced significant managed growth in the last 3 years, First Underwriting are further diversifying its specialist product portfolio to include more niche non-motor products.
Tom Donachie, Managing Director of First Underwriting, explains:
“In January, First Underwriting announced a new 5-year capacity deal to place c£1bn of gross written premium into the market, with A- rated partner Accredited Insurance. This has opened new opportunities for us to be innovative in the development of new products and given us the capability to guarantee long term capacity to our brokers. The new Real Estate product has been developed to meet the wider specialist requirements of niche broker partners, and to provide a broader risk selection to meet their customers’ diverse and bespoke insurance needs.”
Graham Bailey, Head of Real Estate, added:
“I am extremely proud to be launching our First Real Estate product to both existing and new broker partners. It is a proposition built following the canvassing of market-wide views and opinions to identify want our customers really wanted from a Real Estate policy; we have listened to this feedback and created a product designed specifically to meet these needs. Whilst competitive pricing and breadth of coverage are key components of the product, we are aware that our proposition needed to be more than that. In this regard, we have gone back to the fundamentals of service – experienced underwriters that are easily contactable, solution-based in their approach and who understand the importance of responding promptly and efficiently. This is further complimented by our claims handling capability, where we have partnered with leading, expert claims providers to ensure that our brokers and customers receive an excellent claims service. All the above combined make the First Real Estate product one that can be recommended with confidence.”