AXA and Origin UW agree three-year £30m capacity deal
AXA will provide £30m in capacity to Origin UW over three years
The partnership focuses on three lines of business; property, casualty and motor trade
Property and casualty launch in December, while motor trade will be live from 1st January 2019.
AXA Insurance and Origin UW have entered a three-year partnership with AXA providing £30m of capacity for a range of products.
As part of the agreement, AXA will work on three lines of business with Origin; property, casualty and motor trade. The non-motor products will launch in December, while motor trade will be live from 1st January 2019. The deal also includes an excess of loss facility for public and products liability and employer’s liability.
The latest partnership is part of a wider AXA strategy to grow and develop its schemes and managing general agent’s business.
Brendan Clark, Head of Sales & Marketing – Delegated Authorities, AXA Insurance said:
“Commercial lines is a crucial part of AXA Insurance’s business and over the past 12 months we have had a strong focus on bringing new propositions to the broker sector. Central to this has been strengthening our links in the schemes and MGA space.
“We have been keen to find new partners and Origin shares our ambition for growth in this area. We are delighted to be partnering with Origin on their new products and are looking forward to launch.”
Dawn Henderson, managing director, Origin UW commented:
“Origin UW are delighted to enter into this exciting partnership with AXA. AXA are recognised as a world class brand and underwriting business and share many common values with Origin. Origin being a service led MGA have been looking for a partner to support our underwriting and operational strategy and AXA are an ideal partner for us.
“This deal not only provides first class capacity for the business but also supports our ongoing vision for the business, which includes the delivery of new commercial products designed to create more value and more opportunity for our broker customers"
News of AXA’s deal with Origin UW, comes after the announcement of a £20m three-year partnership with Gresham in April.
AXA currently provides capacity in excess of £100m through a range of MGAs.
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In July 2012 the AXA Commercial Lines and Personal Intermediary businesses came together to form a new single organisation – AXA Commercial Lines and Personal Intermediary. Led by Amanda Blanc, the business offers brokers a more integrated and consistent approach from AXA which is focussed on their needs as a business – whatever the product. AXA Commercial Lines & Personal Intermediary provides underwriting expertise, offering a range of commercial lines and personal lines products and insurance solutions to our brokers and customers. AXA Commercial & Personal Intermediary is part of AXA Group, a worldwide leader in insurance and asset management serving 101 million clients.
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