Australian MGU Criterion Underwriting expands into the UK

Australian MGU Criterion Underwriting expands into the UK | Insurance Business Australia

Insurance News

Australian MGU Criterion Underwriting expands into the UK

Launch of British business made possible through OneAdvent platform

Insurance News

By
Terry Gangcuangco

Australian managing general underwriter Criterion Underwriting has expanded into the UK through specialist managing general agent and broker services platform OneAdvent.

Based in Brisbane, Criterion Underwriting is backing Criterion Ltd in London to underwrite with a focus on sectors such as waste management, recycling, and mining. The UK launch was made possible by OneAdvent, which provided regulatory, compliance, and business oversight.

“The current market presents a clear opportunity for a provider like Criterion Ltd to make its mark with a quality offering backed by experts,” OneAdvent chief executive Tim Quayle said in a release. “It’s an incredibly complex class of business that requires a fresh approach.

“We were impressed by Stuart’s clear plan to build long-term relationships with insurer partners and brokers and Criterion’s flexible approach to underwriting. We’re very excited to provide support for their successful launch.”

Quayle was referring to Criterion Ltd underwriting director Stuart Kinsella, whose credentials include leading Rokstone Underwriting’s waste & recycling property team until late last year.

“The recycling market is critically underserved from an insurance perspective and has historic issues with poor risk management and large losses,” Kinsella commented. “Criterion has assembled a team of experts in this complex class of business to create a sustainable recycling product underpinned by the best technical underwriting standards and technology.

“Our proposition will centre around best-in-class customer service and fast turnaround times to help brokers to build lasting relationships with the market and their clients.”

Meanwhile, according to the “our locations” section of Criterion Underwriting’s website, Kinsella is also currently in charge of the MGA’s offering in Ireland and Canada. Additionally, as indicated by OneAdvent in its announcement, a US expansion is in the offing as well.

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