Aston Lark buys Magenta Insurance

Aston Lark detailed that Magenta Insurance is a chartered managing general agent (MGA) based in East Anglia providing specialist insurance solutions for non-standard residential property to brokers and IFAs throughout the UK.

Established over 27 years ago, Magenta’s underwriting capacity is sourced through Lloyd’s of London and composite markets, all of which are A-rated and provides it with the underwriting flexibility to help with highly complex property risks.

The move follows its buy of Bruce Stevenson which was revealed yesterday.

Focus
Peter Blanc, Aston Lark group CEO, said: “We’ve been actively searching for high quality MGAs to bring into the Aston Lark Group. Magenta have recently achieved Chartered status which is testament to their focus on quality and service – both of which are at the heart of Aston Lark’s ethos.

“Catherine Bell, David Reid and their team have been highly innovative in the property insurance arena, creating solutions for the huge industry challenges posed by Escape of Water claims and we can’t wait to see how we can help them extend their offerings to the market.”

Bell, who is chairman of Magenta Insurance, added: “We are delighted to be joining the Aston Lark Group. With their client focus, Chartered status and professionalism, this is a perfect alignment for our team. We are excited about future opportunities as part of such a prestigious organisation.

“Our commitment and focus is to continue to offer our brokers and IFAs an excellent underwriting service, as we work towards building on and improving our offering as part of Aston Lark. We share a vision for improving client outcomes by finding new and innovative ways to mitigate risk and also finding impactful solutions for all stakeholders to protect and insure residential properties.”

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