Bridgehaven Europe Holdings Limited has entered into an agreement to acquire the Dublin-based insurer, SureStone Insurance DAC. Following the deal, Bridgehaven said it would transition SureStone into its first European subsidiary to underwrite EU risks via the managing general agent market.

Bridgehaven operates as a risk-taking hybrid insurer and creates an insurance chain for MGAs, insurers, and reinsurers to collaborate. It was launched in 2023. SureStone, which has been in run off since the end of 2019, previously specialised in a range of property and casualty risks.

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.”