Miller has announced the launch of a new delegated authorities team focused on the European market.
The group will be led by Laurie Gaitskell (pictured above), who has been appointed head of European delegated authorities, with Anne-Sophie Petit and Ilenia Pizzolitto joining the team.
The expansion marks a strategic addition to Miller’s delegated authorities operations, which the company says aims to build out its product offerings and jurisdictional reach. The team will focus on open market and coverholder business, with a particular emphasis on serving small and medium-sized enterprises (SMEs) and placing hard-to-place risks across France, Switzerland, and Monaco.
Gaitskell was previously international director at Alesco Delegated Authority, part of Arthur J. Gallagher. He has experience in both the Canadian and European markets and will collaborate with Chris Hardcastle, head of Delegated Authorities, and Matt Dear, head of International Delegated Authorities at Miller.
Petit and Pizzolitto also join from Alesco Delegated Authority. Together, the newly formed team brings more than 40 years of industry experience.
Hardcastle said that the team’s experience in the French market enhances the firm’s position in Europe and supports the ongoing development of its delegated authority business.
Delegated authority arrangements, wherein insurers authorize third parties like managing general agents (MGAs) to underwrite and manage policies, have become increasingly prevalent.
This model allows insurers to access specialized markets and expertise, facilitating portfolio diversification and operational efficiency. However, the expansion of DA has also brought to light concerns regarding oversight and performance management.
Lloyd's, a significant player in the DA space, has reported that approximately 39% of its gross written premium is generated through delegated arrangements, excluding service companies.
While this indicates substantial reliance on DA, Lloyd's has expressed apprehension about the potential risks associated with these arrangements, particularly if market conditions change.
What are your thoughts on this story? Please feel free to share your comments below.
