Specialist managing general agent (MGA) Euna has launched its professional indemnity (PI) offering in the London Market, seeking to carve out a niche in a segment where competition is intensifying and rates are under pressure.
The move gives the underwriter-led MGA access to a marketplace that handled roughly US$187 billion in gross written premium in 2024, up 17% since 2022, according to the London Market Group.
For Euna, it represents an opportunity to write more complex professional indemnity risks across sectors including construction, architecture, engineering, IT, media, and accountancy.
It also comes at a pivotal moment for the UK's PI market. Howden's renewal analysis for the 2025/26 solicitors' indemnity year recorded 37 participating insurers, up 42% from the 26 active when the hard market began in 2019.
That environment raises the stakes for specialist MGAs looking to stand out. Euna's pitch rests on what it calls an underwriter-first model, with over 90% of its team focused on underwriting.
The company said this structure is designed for handling complex risks in a class that has seen notable shifts in claims patterns and pricing. Its professional indemnity product offers limits up to £20 million on both primary and excess layers.
The MGA is wholly owned by insurance platform Accelerant, which provides the majority of its capacity under a five-year deal. Euna previously reported 40% topline growth across its book in 2023, and its gross written premium more than doubled during the three-year tenure of former chief executive Rob Munden, who stepped down in early 2025.
Ross Dingwall, who succeeded him as CEO in January of that year, brings over 30 years of experience from Hiscox and Partners&.
Pete Newson (pictured above), head of PI underwriting at Euna, described the expansion as the next stage of the company's trajectory.
"[It will allow us to] scale our business while increasing our value to new and existing broking partners by providing more sophisticated placement options," Newson said.
He added that the company's priorities remain centred on meeting the evolving needs of professionals across the UK, saying the London Market would enable Euna to "underwrite more complex risks, develop more dynamic products, and stay agile as new challenges emerge."
