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City of London headquartered Ambant Underwriting Services (AUS), MGA launch and host specialist, has just announced that Heritage Group has taken a 33 per cent investment in the firm. Insurance and financial services specialist Heritage Group is based in Guernsey.
Heritage Group Chief Executive Richard Tee said: “Our investment in AUS is part of our strategy of expansion in to the dynamic London market. It gives us greater access to this leading firm’s considerable expertise and provides us with a solid professional platform on which to launch the MGAs we sponsor.”
Steven Crabb, CEO, AUS says: “Heritage’s investment in AUS is particularly significant given the increasing interest that MGAs are generating in the market. MGAs need access to specific regulatory support and business knowhow - and that’s exactly what AUS specialises in. We welcome this development and the closer partnership it brings to our two firms. Now that Heritage is on board we will be further expanding our offering to MGAs.”
AUS, launched in October 2013, already has 9 MGA clients with a £90 gross written premium (GWP) forecast turnover for 2015. It is a subsidiary of City of London based Ambant, the Lloyd’s, London and International insurance markets professional services firm.
