Asset management giant Barings commits up to $180m for new MGA-backing insurer
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Barings has committed up to $180m (£132.7m) for the launch of Pinion Insurance which will offer capacity to managing general agents in the UK, US and Europe.
The specialty insurer, incorporated in Bermuda but headquartered in London, is aiming to be ready to write business in the UK and EU in 2027, following on from binding business in the US in the second quarter of 2026.
The start-up is currently seeking the necessary licenses and regulatory approvals as well as a rating from AM Best.
Pinion has been founded by group CEO Neil McConachie, group chief underwriting officer Philip Vandoninck and group chief technology officer Laura Baird.
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