Managing general agent Aqueous Underwriting has agreed a three-year capacity deal with A+ rated insurers Allied World and Sompo for SME package business. The agreement will see the MGA transition away from its existing capacity provider Allianz, although Allianz will continue to provide capacity for other lines of business.

Tom Hill (pictured), head of e-trade at Aqueous Underwriting, said: “We are delighted to be working with Allied World and Sompo on a syndicated placement basis, enabling us to pursue our strategic objective of significantly enhancing our existing product suite and developing new products, whilst not being reliant on any single market.

“Next year will be an exciting one for us all at Aqueous as we accelerate our growth in the SME market.”