Specialty MGA, the managing general agent within MNK Group, has appointed experienced reinsurance professional Simon Woodage as Senior Underwriter for North American Property Treaty, as it expands its presence in the treaty reinsurance market.
Woodage’s appointment will see him take responsibility for developing Specialty MGA’s North American Property Treaty business, with a focus on establishing the portfolio, setting its underwriting approach and building relationships with insurers and brokers across the sector.
He joins Specialty MGA with almost four decades of experience across the insurance and reinsurance markets. Much of his career has been dedicated to North American Property Treaty, with experience spanning both underwriting and broking.
His previous positions include leading a major North American Property Treaty account at Brit Insurance and working as Divisional Director at BMS Group, where he was responsible for a number of significant Property Treaty relationships. He also played a role in establishing a treaty portfolio from the ground up at China Re.
Specialty MGA said the new portfolio will be developed with a focus on long-term relationships with insurers that regard reinsurance as an integral part of their business strategy. The company noted that it intends to work with businesses that have specialist knowledge of their respective markets, maintain a strong understanding of their risk profiles and have demonstrated the ability to deliver strong performance in their chosen areas.
Manoj Kumar, Chairman of MNK Group, commented: “Simon brings exceptional experience and market knowledge, combined with perspectives gained from both underwriting and broking. His track record of building successful North American Property Treaty portfolios and developing strong market relationships makes him ideally placed to establish and grow this important area of our business. We are delighted to welcome him to Specialty MGA.”
Woodage added: “What attracted me to Specialty MGA was its ambition, energy and can-do attitude. It is a business with a clear vision and the flexibility to adapt quickly when market conditions change. In a cyclical market such as North American Property Treaty, that ability to respond pragmatically is incredibly important.
“The opportunity to build a portfolio from a blank canvas was particularly appealing. We will focus on working with insurers that have genuine expertise in their markets, seek long-term partnerships and recognise the value of reinsurance. While modelling remains an important tool, underwriting judgement and strong relationships will continue to be central to our approach.”
The appointment forms part of Specialty MGA’s wider development of its treaty reinsurance offering, with Woodage expected to lead the North American Property Treaty operation as the portfolio is established.
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