Amiga Specialty, a specialist managing general agent (MGA), has secured £25m/USD ‘A Class’ global licensing capability for its yachting division, marking a major step forward in the development of its specialist marine product.
The newly acquired capacity will enhance Amiga Specialty’s ability to underwrite complex yachting risks globally.
While the unit will underwrite yachting risks globally, its focus will be on the U.S., Southeast Asia and European markets.
The company noted that Southeast Asia is expected to be a key market for the business, following the recent opening of Amiga’s Hong Kong office.
To ensure seamless regional development, Yachting Managing Director Jason Stephenson will split his time between the company’s headquarters and Hong Kong during key trading periods throughout the year.
Thanks to the strong capabilities of Stephenson and the Amiga Yacht team, the division was able to quickly and efficiently acquire capacity from the highly rated Lloyd’s, the announcement said.
Stephenson commented: “Securing Lloyd’s capability is an exciting and important milestone for our yachting business. It provides us with a strong platform to support international brokers and clients, backed by exceptional capabilities and specialist underwriting advice.
“As Amiga Specialty’s presence in Hong Kong continues to grow, we are well-positioned to provide responsive, targeted solutions to these important markets.”
