Agile has launched its construction underwriting operations, expanding its portfolio to include contract works insurance.
The move follows the appointment of Gordon McNab (pictured above) as head of construction, who will oversee the development of Agile’s offerings in this sector.
McNab has been working with Agile in preparation for the launch and now steps into the leadership role for the construction class. The new product line is supported by Agile’s own Lloyd’s syndicate, Agile Underwriting Services Syndicate AUS2427, along with a panel of Lloyd’s partners.
In his new position, McNab is tasked with further developing Agile’s construction underwriting capabilities and establishing a contract works product for the market. He brings extensive experience to the role, having been recognised as a prominent figure in the construction insurance sector.
The construction class joins Agile’s existing product lines, which include accident and health, aviation, casualty, cyber, drones, financial lines, marine, and property.
Robin Barham, CEO of Agile, commented on the appointment, stating, “We’re thrilled to have Gordon’s expertise onboard to lead our construction business. He’ll play a key role in delivering the underwriting precision and broker support Agile is known for.”
The launch of Agile’s new unit comes amid a softening trend within the London construction insurance market, with rates declining across construction lines. Carriers are lowering minimum premium thresholds to secure market share, and new entrants are adding to the competitive landscape.
Underinsurance is also an increasing concern in the UK non-standard sector, with 84% of brokers indicating that current premium levels are affecting clients’ ability to maintain adequate cover. Economic pressures and rising material costs are contributing to this trend, which has led to more clients reducing cover or accepting higher excesses to manage costs.
Elsewhere, Agile’s Lloyd’s Syndicate 2427 has also completed its first full underwriting year, expanding into new lines and increasing broker engagement. The syndicate targets SME and mid-tier market segments, focusing on digital-led, locally anchored insurance solutions.
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