Coverys launches European casualty MGA AEC Europe
London - October 19, 2021 - Coverys European Holdings (CEH), a leading underwriting vehicle that invests in speciality managing general agencies in Europe and the UK, announces the expansion of its AEC underwriting agency with the launch of AEC Europe in Barcelona. AEC Europe underwrites a suite of products including professional indemnity, directors and officers (D&O), medical malpractice, and cyber.
AEC Europe will execute a pan-European underwriting strategy drawing on the collective experience of the assembled team and, taking advantage of buoyant market conditions. A select panel of insurers, reinsurers and Lloyd’s syndicates provide the capacity.
Cutting-edge technology underpins the new MGA by providing instant quotation, straightforward electronic placement, improved policy administration, and real-time risk and claims insights to deliver an enhanced customer experience.
Ana de Oliveira leads AEC Europe, drawing on a wealth of casualty expertise. Having started her career in her native South Africa, Ana has extensive experience running her own underwriting agency, as well as, holding various director positions. Prior to joining AEC Europe, Ana led the Iberian team and assisted in growing the European portfolio, as professional lines senior underwriter at ANV Global Services.
AEC Europe’s launch marks the next phase in the evolution of Coverys’ European MGA network, which includes casualty underwriting offices launched or acquired in Italy, Ireland and the UK.
Doug Robare, Chief Underwriting Officer of Coverys Europe Holdings, said: “We are delighted to expand our European network yet again, and embrace the clear opportunity to present a real, dynamic challenge to the status quo. The sum of technology and the local team’s expertise will quickly establish AEC Europe as a leading casualty insurance provider across the continent. Under Ana’s expert leadership, we have built a team of skilled underwriters who have identified gaps in their chosen markets. They will exploit those opportunities with their substantial expertise, underpinned by supportive capital and cutting-edge technology.”
Ana De Oliveira said: “It’s an exciting time to broaden AEC’s footprint. There’s a growing local need among professionals for our carefully crafted casualty products. From our regional bases in Italy and now Spain, we are ideally located with local expertise to provide the coverage they truly need, and to tap into the resources of CEH’s expanding MGA network to complement the offer.”
Elisabetta Ibba, CEO of AEC Wholesale Group, said: “The launch of AEC Europe is a key milestone for our rapidly expanding business. We are now developing the capabilities to expand our footprint across Europe, bringing together a combination of recognised expertise both locally and internationally that will increasingly set us apart. I am delighted to be working alongside Ana to help further our vision for a new breed of pan-European underwriting, which seeks to draw out the best of local talent backed with the financial, technological and strategic muscle of CEH.”