International insurance and reinsurance group Antares Global has announced the launch of Scorpius MGA, a new platform designed to support managing general agency (MGA) businesses through a combination of underwriting capabilities, operational support and governance services.
The business will be led by chief executive Ian Morris and launched by Antares Global as part of its wider strategy to enhance the way it works with brokers, underwriting partners and clients.
According to the company, Scorpius MGA will provide a centralized oversight and governance structure that allows the MGA to be integrated through a controlled and structured process.
Antares added that partners using the platform will have access to a range of support capabilities, including pricing, modeling and exposure management services.
Antares Global said the launch builds on its established history of working with UK insurers, Lloyd’s and MGAs in the reinsurance business. The primary objective of Scorpius MGA is to connect the profitable MGA business with Antares Insurance Company’s underwriting capabilities while expanding distribution opportunities, increasing its presence in the specialty and retail insurance markets and accelerating product development, the company said.
The company said the platform is part of its wider aim to enhance distribution capabilities in the UK and selected international regions by partnering with organizations and individuals with experience in established markets. Antares explained that Scorpius MGA will operate alongside its existing underwriting business, providing additional access to market and helping the group reach target customer segments through specialist partners, while maintaining underwriting discipline and operational control.
Antares Global also highlighted that Scorpius MGA differs from many traditional MGA platforms in that it does not rely on a single source of underwriting capacity. If an opportunity exceeds Antares’ underwriting appetite, the platform can arrange placements with third-party capacity providers to ensure suitable business can still be supported, the company said.
Ian Morris, CEO of Scorpius MGA, commented: “This platform is a natural progression from building on our long-standing relationship with the MGA market through a centralized specialist platform. By providing capacity and operational expertise to MGA, we enable talented underwriters to focus on what they do best: underwriting.”
Mike van der Straaten, CEO of Antares Global, added: “This is a strategic evolution of our market relationship with MGAs. Antares has a long history and extensive experience supporting MGAs – these partnerships enhance our ability to secure high-quality distribution, support specialist underwriters and diversify our business into new markets.”
“As we continue to expand, launching Scorpius is a natural next step, allowing Antares to deploy its capital more efficiently while redefining MGA infrastructure for the next generation.”