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Hybrid fronting insurer Bridgehaven has signed up for its first buy, to snap up Dublin-based insurer SureStone Insurance for an undisclosed amount.
Bridgehaven was approved by the Prudential Regulatory Authority in July 2023 to start backing managing general agents in the UK.
The following month chief executive Paul Jewell told Insurance Age it would have a “fairly broad risk appetite” across a wide range of commercial specialty business. The same month it secured an A- (excellent) financial strength rating and a long-term issuer credit rating of ‘a-’ (excellent) from AM Best.
The MGA-backer has gone on to build a portfolio of more than £350m
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