Property MGA Aspect Labs launches
UK-based Aspect Labs has emerged from stealth to focus on writing hard to place small to mid-market property (re)insurance across the UK and Europe.
Reinsurance underwriting capacity is provided by Everest Reinsurance Ltd, AmTrust International Underwriters DAC and AmTrust Europe Limited, while insurance capacity is provided by AmTrust International Underwriters DAC and AmTrust Europe Limited.
Aspect will initially begin in the direct and facultative small to mid-market property arena in the UK, Ireland, Netherlands, and more widely across the whole of continental Europe, with plans to expand beyond this in the future.
Aspect has written around £5.5m of gross premiums while in stealth mode and expects premiums to top £25m annually by the end of next year.
“By very deliberately focussing on small to mid-market risks with some higher inherent hazards, we aim to give brokers a home for tricky placements that are too small for Lloyds. We can enable brokers to complete placements that are missing that final few percent on the slip and we can provide a compelling option for brokers with nowhere else to go.” – Henrik Webster, co-founder and managing director of Aspect.