Bspoke Private Clients has secured a new five-year capacity deal via the Accelerant Risk Exchange, increasing its maximum line size to £15 million per single location and expanding its reach in the UK mid- and high-net-worth market.
The private clients MGA, part of BSpoke Group, said the additional capacity would widen the range and complexity of risks it can write and provide greater certainty to brokers at a time when UK households and high-net-worth markets are grappling with capacity constraints, weather-driven losses and rising claims costs.
According to industry data, UK home insurers have faced sustained pressure from rising claims inflation and more frequent severe weather, with home insurance payouts reaching hundreds of millions of pounds in recent quarters and several carriers tightening their underwriting appetite or retrenching from more complex household and high-value risks.
Capacity increase aimed at high-net-worth growth
According to Stuart Bromley, managing director of Bspoke Private Clients, increasing the company's line size widens its footprint and strengthens its position in the high-net-worth market.
The higher line size is expected to give brokers more options for placing larger homes, higher‑value contents schedules and multi‑location portfolios, particularly where existing markets have imposed tighter limits or more restrictive terms.
“Bspoke Private Clients has been on an exciting journey over the past two years, and with this new backing, it represents a major step forward in our capabilities," Bromley said.
Accelerant’s role in delegated authority capacity
The capacity is being provided through Accelerant, which operates a risk exchange model connecting MGAs with a panel of risk capital partners.
Accelerant has grown quickly in recent years, focusing on specialty and delegated authority business across multiple territories, and now supports a large number of MGAs and niche lines. Market commentators have highlighted the increasing role of such platforms in providing multi-year capacity to MGAs, particularly in segments where traditional composite insurers have scaled back exposure or tightened terms.
In addition to the capacity agreement, Bspoke Private Clients has introduced a series of product and wording changes across its Gold (mid-net-worth) and Platinum (high-net-worth) offerings. These include a change of home emergency and legal expenses provider to ARAG.
Under the revised arrangements, Bspoke Private Clients’ policyholders will also have access to a cyber helpline. The inclusion of personal cyber support reflects a broader trend in the high‑net‑worth sector, where insurers are increasingly bundling cyber advice, incident response and digital identity assistance into home and contents policies for affluent customers, amid rising concerns over online fraud and cyber-enabled crime.
Reinforcing relationship with brokers
Ryan Gill (pictured), CEO of BSpoke Group, said the move was aimed at reinforcing the group's position with brokers in the private client space.
"This announcement underlines our commitment to being a reliable, long-term partner for brokers in the private clients space," he said. "We are delighted to expand our relationship with Accelerant and to strengthen our proposition to customers with increased capacity, enhanced product offering and direct access to decision makers delivering a high quality of service."
Brokers active in the mid- and high‑net‑worth home market have reported increasing difficulty in placing some larger or more complex risks, as insurers respond to higher loss ratios, more volatile weather patterns and changes in reinsurance costs. Analysts expect UK home insurers to remain under pressure from claims inflation and climate-related events in the medium term, even where headline results may show a temporary improvement in profitability.
