Arrow Risk Management has announced the launch of its new MGA underwriting platform, which is to be led by Jon Godfray as chief executive officer and Mark Harrington as chief underwriting officer.
The latest platform reportedly provides a “highly efficient and effective” trading environment for underwriting practices operating across specialty lines of business.
Each practice will be managed by leading underwriters in their respective business lines, while Arrow Risk said it will “operate with strongly rated capacity”.
Arrow Risk will commence trading on 1 December 2021, and will announce the launch of its first underwriting practice shortly after this date.
New CEO Godfray is described as a “highly accomplished” insurance market professional who has played a leading role in the establishment of several companies, including a large scale London Market MGA platform.
Meanwhile, Harrington brings with him decades of underwriting experience and has previously overseen the launch and provided underwriting oversight for several MGA platforms.
The management team also includes Mark Bridges, chief operating officer and Lloyd Howson, chief financial officer. Bridges’ 40-year career spans operations roles within both UK and European insurance sectors, while Howson has managed the financial activities of Lloyd’s and London Market insurance operations for over 30 years.
Godfray said: “Arrow Risk is launching into a highly competitive but expanding MGA market which demands a very strong value proposition. We believe that the proven MGA pedigree of our leadership team, our commitment to recruiting best-in-class, performance-focused underwriters, and the modern, scalable technology that underpins our platform, provide a compelling proposition for today’s market.”
Harrington added: “The current trading environment is a positive one, and we see a clear opportunity to capitalise on these conditions through our differentiated business model. The insurance sector has undergone a period of dislocation and we are able to provide robust capacity and relevant products to areas of the market currently underserved.
“We are excited about having the opportunity to build profitable and sustainable portfolios that generate strong returns as the market continues to evolve.”