BRICS will act as a gateway for reputable reinsurers from emerging markets, allowing them to access London distribution channels and business opportunities that are often unavailable in their local regions.
BRICS also aims to provide London and international reinsurance brokers with a transparent and efficient jurisdictional framework, designed to streamline dispute resolution processes. The new MGA will initially offer quota share property, engineering, and other traditional lines of business. In addition, it plans to partner with internationally focused London markets to create cross-border distribution opportunities.
Ahsan Abdul Majid, currently chief commercial officer for ConnectUW Holdings, has been appointed to lead BRICS. With over two decades of experience in emerging markets, Ahsan is highly regarded in the emerging risks sector. He will be supported by various units within the Connect Group, drawing on the underwriting expertise of ConnectUW, Stability Risk, and GBN Risk Solutions, and will operate under a shared resources model.
Jamil Elbahou, CEO and CUO of Connect Underwriting, commented: “As the world’s geopolitical focus shifts dramatically to the east, now is the opportune time to bridge the gap between east and west. BRICS is a diverse and versatile underwriting business that will give quality emerging reinsurance markets the ability to grow on the international stage and act as a much-needed interface between London and international brokers and markets.”
