In 2021, JPO was appointed as Lead Advisor by ARTes Specialty Limited (ARTes), in the formation of a brand new International Managing General Agent and Lloyd’s Coverholder.
Bringing a fresh take in strategic execution, JPO assisted the Principals of ARTes in pursuing a significant business opportunity to establish a new Lloyd’s Coverholder within the international specialty market. Through meticulous planning, deal structuring and tactical negotiations, JPO assisted the partners in devising an effective blueprint and then successfully launching ARTes Specialty Limited. This new model includes the potential to write international speciality insurance and reinsurance business with the strong backing of Chaucer Group and Beazley Group.
Acting as deal architect, JPO ensured judicious planning and structuring of all related execution activities. Working seamlessly with the ARTes’ Principals and ASTA, JPO co-ordinated and managed all key actions, from conceptualisation through to implementation of the deal. Our comprehensive and pro-active approach resulted in the first-ever Lloyd’s Coverholder to be registered within just 9 months from conceptualisation.
This effective deal structure was reinforced by JPO’s design and implementation of a future-proof Target Operating Model in order to leverage ARTes’ capabilities. Within this, JPO directed the entire deal structuring and negotiation process, from securing Private Equity investment through to attaining Lloyd’s Coverholder registration.
This included the negotiation of a long-term, flexible and scalable Insurance Services Agreement with Asta Underwriting Management Limited (“ASTA”), whilst securing AR status with the Financial Conduct Authority and deploying a bespoke underwriting system with SabreFish Limited.
JPO supported ARTes’ underwriting team to secure $20m of long-term underwriting capacity through a fully delegated Binding Authority Agreement with Chaucer Group and Beazley Group.
About ARTes:
ARTes Specialty is an independent UK based MGA, wholly owned by the founders and directors, specialising in portfolio management of UK and International speciality insurance programmes.
The company offers Producers and MGAs access to a panel of Lloyd’s and International A rated Company Markets, securing long-term capacity arrangements, supported by actuarially substantiated data and delivered via a market leading, bespoke insurance IT platform.
See https://www.artes-specialty.com for further details.
About Asta:
Asta Managing Agency Ltd is the leading third-party managing agent at Lloyd’s and is responsible for twelve syndicates, one SPA and two Syndicates-in-a-Box with capacity under management in 2022 of more than £1.4bn.
Asta Underwriting Management Limited (AUML) brings the skills, experience and capabilities of the leading third-party managing agency at Lloyd’s to the MGA market. AUML currently manages four MGAs.
See https://www.asta-uk.com/our-clients/ for full details.
About Sabrefish:
Sabrefish is an insurance software specialist that provides multi-channel software for the global insurance industry.
Sabrefish help insurance companies expand into new geographies, product offerings or channels to market with ease, with our best-of-breed insurance platform, RiskWrite. Their rapid growth customers include DUAL Group, Nexus and Pine Walk Capital.
See https://www.sabrefish.com/ for full details.
IN THE NEWS….
Asta and JPO Consulting launch ARTes Specialty MGA – Reinsurance
Asta launches new UK-based MGA ARTes Specialty – Intelligent Insurer
Asta and JPO Consulting Launch ARTes, an MGA Specializing in U.S. Inland Marine – Insurance Journal
New Lloyd’s MGA ARTes Specialty to initially focus on US inland marine – Global Risk Manager
ARTes live on RiskWrite Cloud Managed Service – SabreFish
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