Amwins, a global distributor of specialty insurance products and services, has made a minority investment in Australian start-up MGA incubator Rhodian.
Amwins is an independent wholesale distributor of specialty insurance products in the US, dedicated to serving retail insurance agents by providing property and casualty products, specialty group benefit products, and administrative services.
Rhodian is a network of underwriting agencies that aims to create independent opportunity and the collective capability to shape the future of the insurance industry.
The company was born out of a response to the ever-changing Australian agency environment.
According to Rhodian, barriers for newcomers to the market are becoming significantly more challenging, meaning a reduced flow of entrepreneurial talent entering the market. Rhodian’s goal is to empower these future industry leaders to build agencies that will deliver to the intermediated market with strong products, new technology and a transparent data sharing philosophy that drives positive change.
Simon Lightbody, chief executive officer at Rhodian, said, “We are excited to partner with one of the world’s leading independent insurance firms. Amwins has a strong and impressive culture, which aligns with our vision. We believe that together we can ensure the Australian agency market continues on its trajectory toward being the strongest supplier of niche products to broker markets.”
Mark Cody, managing director of Amwins Global Risks, added, This is another great example of Amwins Global Risks bringing new and exciting MGA opportunities to the market. AGR is one of the largest London brokers specialising in delegated authorities and capacity building, with over $2bn of premium flow annually. We are truly a global broker, and this provides great diversification in territory and class of business. We are excited to work with Rhodian and assist them as they look to build out this innovative business, attracting ‘best in class’ talent.”
Last year, Amwins Access, a binding and brokerage platform for small property & casualty (P&C) personal lines accounts, launched two excess wildfire products for residential properties in California.
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