Bridgehaven expands into European MGA market with SureStone acquisition

Bridgehaven Europe Holdings Limited (Bridgehaven), a UK-based hybrid insurer focused on commercial and specialty lines, has entered into an agreement to acquire SureStone Insurance DAC (SureStone), a Dublin-based insurer, for an undisclosed fee.

SureStone will become Bridgehaven’s first European Subsidiary to underwrite EU risks through the rapidly evolving MGA market—expected to grow to £50 billion in premium over the next three to five years.

Following a strategic review, SureStone ceased writing all new insurance contracts, including renewals, effective 24th December 2019, having previously specialised in a range of property and casualty risks.

Bridgehaven will continue to fulfil all existing financial and regulatory commitments to policyholders, claimants, and business partners.

Paul Jewell, CEO of Bridgehaven, said, “This first acquisition is an important milestone for the business. In under two years, we’ve built a business writing over £350m binder premium via our UK MGA partners and facility arrangements.

“Going forwards, we will support MGAs who require EU commercial and specialty products across the 27 EU states. Our aspiration is to be the leading hybrid insurer supporting MGAs, linking quality reinsurance capital to a diversified and profitable portfolio.”

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