London: 14 February 2022: Chris Thomas and Richard Brown, today announce the launch of ARTes Specialty Limited (ARTes). ARTes is an independent UK based managing general agent (MGA), wholly owned by the founders and directors, specialising in fully delegated portfolio underwriting, connecting strategic partnerships with selected distributors to Lloyd’s and company market capacity.
ARTes has been collaborating with Asta, the leading third-party managing agent at Lloyd’s, via their flexible MGA platform, as well as seeking the specialist strategic and deal structuring advice from JPO Consulting. Both supported ARTes in establishing its MGA. The initiative is backed by private equity investment from Bermuda.
Throughout 2022, as a Lloyd’s registered coverholder, ARTes will initially focus on underwriting a US inland marine specialty book with an estimated GWP of US$20 million capacity. ARTes is looking to expand by furthering its plant and engineering underwriting footprint in South America and Australia, in addition to deploying a new UK specialty commercial combined facility focused on the leisure and hospitality sector.
Julian Tighe, chief executive officer of Asta, said: “We are thrilled to welcome ARTes as our latest MGA. Asta’s plug-and-play MGA platform perfectly accommodates ARTes’ needs as a newly formed business, and its flexible nature will enable them to embrace the new opportunities that are emerging in the market.”
Chris Thomas added: “Over the past year, with the support of JPO Consulting and Asta, we have been developing this MGA with the aim of creating strong and stable underwriting capacity programmes that produce profitable returns across the rating cycle. We will seek to deliver market-leading underwriting profitability while becoming an efficient, profitable and industry recognised business.”
Patrick Oldoni, founder and principal of JPO Consulting, added: “We are delighted to have supported ARTes’ principals in setting up this exciting MGA play. JPO Consulting, from conceptualisation to implementation, assisted Chris and Richard in defining a clear strategic path and helped facilitate the successful pursuit of their ambitions.”