Brit combines Ambridge and BGSU to create US MGA
Brit announced that it will be bringing together it’s US service company platform, Brit Global Specialty USA (BGSU), and its premier MGA, Ambridge Group .
The combined entity, which will operate under the Ambridge brand as Ambridge Partners LLC, will create an MGA managing in excess of $450 million in premium in the US and over $110 million in premium written by Ambridge’s international affiliates. All current US employees across BGSU will be part of this transition. Ambridge is fully owned by Brit, which first made a strategic investment in 2015 and acquired full ownership in 2019.
The combination will see BGSU’s products distributed through Ambridge and sit alongside Ambridge’s existing products in transactional insurance, complex management liability and intellectual property. This will enable the combined underwriting teams increased flexibility and greater opportunities to grow premium while broadening the products offered under the Ambridge brand.
The enlarged Ambridge business will trade through three segments, Ambridge Transactional, Ambridge Specialty Casualty and Ambridge Re.
- Ambridge Transactional will consist of D&O, IP Liability, Reps and Warranties, Special Situation Contingency, and Tax.
- Ambridge Specialty Casualty will consist of Cyber, Excess Casualty, General Liability, Professional Lines, Construction Professional, and Public Entity Non-Profit.
- Ambridge Re will consist of Casualty Reinsurance, Political Violence, and Property FAC.
BGSU’s Programs team will write directly into Brit Syndicate 2987. Jess Pryor will lead Ambridge as Executive Chairman. He will also continue in his role of Executive Chairman of Scion, which will remain a stand-alone MGA business, headquartered in Dallas, Texas and led by Scion President, Scott Brock.
“We believe that there is compelling rationale in bringing these two businesses together, creating a single, scale MGA under the highly regarded Ambridge brand. At a time when market conditions continue to improve, it will give our underwriting teams the ability to respond to opportunities and empower a more entrepreneurial approach. Our clients and broker partners across both businesses will experience no change in their products or underwriting teams, however it will enable a greater focus on service, making it easier for them to engage with an enlarged set of products offered under the Ambridge brand. We are excited about the opportunity to bring the two teams together.” – Jess Pryor, Executive Chairman.
