Recently formed MGA, Specialty MGA UK, has been approved as a Lloyd’s coverholder.

The MGA’s expertise includes commercial forests and plantations, surety, financial lines, cyber and international property.

Phil Cottle, head of forestry and agriculture at Specialty MGA, said: “We’re thrilled to be accredited as a Lloyd’s Coverholder and to be able to use one of the most well-known and trusted sources of insurance in the world. Specialty MGA UK is filling a number of gaps in the market, especially in areas like forestry insurance, where we can really offer something new to clients.

“Developing this offering will be good news for Lloyd’s and its customers across many different lines, as businesses consider their impact on the climate and the role that offsetting and reforestation can play in reducing it. We work with some of the biggest names in this area and can offer Lloyd’s insurers worldwide exposure to the reforestation and carbon credit space.”

Philippe Bara, chief underwriting officer at Specialty MGA UK, added: "This is an important step forward for everyone at Specialty MGA UK and I’m delighted at the rapid progress we’ve made in a relatively short space of time. Coverholder status makes our considerable expertise even more accessible and will provide clients with access to greater capacity.

“Our focus has always been on delivering value for clients by finding unique solutions to their problems and new capacity at Lloyd’s significantly increases our ability to do that.”

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