MGA Services

A SIMPLE WAY TO PARTICIPATE

For MGAs introducing a portfolio of profitable business, accessing the underwriting profit of ‘their book’ can be a truly transformative business decision. Whilst making the leap to providing risk-bearing capital can seem daunting, Robus have the experience, expertise and established solutions available to guide you through the options and set-up your new vehicle.

ESTABLISHMENT AND SUPPORT SERVICES

The most common ways for MGAs to participate is providing reinsurance capacity to their existing or new 3rd party insurer panel.

This is achieved by establishing a reinsurance vehicle which typically agrees a quota-share reinsurance treaty with the capacity provider. Via this mechanism, the capacity provider(s) agree to cede a fixed proportion of the premium to the reinsurance vehicle, which in turn agrees to fund the same proportion in claims.

How it Operates

Types of ‘MGA Reinsurer’ Include

COMPANY

Standalone Reinsurance Company
Matched to business introduced with the advantage over other structures being a private limited company which is a straightforward and familiar concept established in the appropriate domicile.

Protected Cell Company (PCC)
For MGAs wishing to segregate portfolios of business or provide a reinsurance facility to different third parties, a Protected Cell Company (PCC) is one legal entity divided into the ‘Core’ and multiple ‘Cells’.

Incorporated Cell Company (ICC)
An Incorporated Cell Company (ICC) is like a PCC but comprises multiple incorporated and licensed cells that are separate legal entities allowing individual cells to contract with each other.

CELLS

Cell in an existing third-party Protected Cell Company (PCC)
A new cell within an existing 3rd party PCC provides reinsurance capacity in a low cost, capital-efficient way. The Core of the PCC will already have an insurance licence and meet the minimum regulatory capital requirements.

Cell in an existing third-party Incorporated Cell Company (ICC)
A new cell in an existing ICC offers a similar solution to a standalone company, providing greater flexibility with related counterparties albeit at a greater cost than a PCC.

The Robus Group offers both Protected (PCC) and Incorporated (ICC) Cell Companies from which we can host your Cell.

OTHER OPTIONS

  • Access insurance capacity through Robus Group managed European Insurers
  • Consider establishing your own insurance vehicle either in Guernsey or in the Solvency II jurisdictions of Malta (European access) or Gibraltar (UK Access)
  • For larger corporate clients who currently provide insurance we can help with options around establishing your own captive insurer where you can continue to provide insurance capacity with greater control.

Download our flyer on MGA Services

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  • HOW CAN ROBUS HELP

    Robus can manage the entire process, from cell or company set-up and licensing through to ongoing management. Our teams in Guernsey and Gibraltar/Malta have considerable experience in the formation and management of insurance companies, cells or other suitable vehicles.

    For those considering bearing insurance risk for the first time, we recommend a Feasibility Study to ascertain whether this would be strategically and financially beneficial and to provide analysis of the different structures and domiciles available. For certain portfolios, establishing an insurance or reinsurance vehicle is simply not viable – we will be honest in our assessments, outlining your options along with the various costs and benefits in an unbiased way.

    E-MAIL: Daniel.Beard@Robus-Risk.com
    MOBILE: +44 (0) 7889 245723


    VIEW DOMICILES

    Robus Guernsey

    Town Mills North,
    Rue du Pre, St Peter Port,
    Guernsey
    GY1 6HS

    E-MAIL US

    +44 (0)1481 742550

    ROBUS GUERNSEY

    Robus Gibraltar

    5/5 Crutchett's Ramp
    Gibraltar
    GX11 1AA

    E-MAIL US

    +350 200 77065

    ROBUS GIBRALTAR

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