AXA partners with Gresham Underwriting

AXA partners with Gresham Underwriting in new capacity deal

AXA Insurance and Gresham Underwriting (GUL), the MGA arm of the Tasker Insurance Group, have entered into a three-year partnership under which AXA will provide £20m of capacity.

17 April 2018

Posted in Innovation

AXA and Gresham sign three-year partnership deal
AXA will provide £20m capacity
Deal coincides with introduction of new products to Instant Quotes broker platform

AXA Insurance and Gresham Underwriting (GUL), the MGA arm of the Tasker Insurance Group, have entered into a three-year partnership under which AXA will provide £20m of capacity.

Under the agreement, AXA will provide support on existing GUL product lines in conjunction with the introduction of new AXA-backed products via Gresham’s Instant Quotes broker platform. The first of these new products will be live within three months adding to the 18 products already available on the platform.

The deal is further evidence of AXA’s appetite for partnerships with MGAs providing high quality service to the broker market whilst delivering a strong underwriting performance.

“Over the past 12 months, Gresham has introduced new risk assessment and selection methodologies which gives us the confidence they will continue to deliver on their underwriting results and we look forward to working with Gresham to develop these improvements further.

“Both AXA and Gresham have an appetite for growth and we look forward to developing new products and exploring new markets in partnership with the Gresham team.”

John Heaney, Director of Schemes and MGAs, AXA Insurance

“This is an exciting time for Gresham as we look to rapidly move the business forward. To have the support of a partner of AXA’s standing helps this process greatly. Having a carrier portfolio of the existing Lloyd’s syndicates alongside company market capacity, provides us with an excellent platform for growth. We are delighted to be partnering with AXA as we move to the next stage of our evolution.”

Rob Munden, Chief Underwriting Officer, Gresham

AXA currently provides capacity in excess of £100m through a range of MGAs.

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in such forward looking statements. Please refer to Part 5: “Risk Factors and Risk Management” of AXA’s Universal Registration Document 2022, for a description of certain important factors, risks and uncertainties that may affect AXA’s business and / or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations.