London: 10 June, 2024 – Devonshire UW Limited, and its affiliate Devonshire UW Europe GmbH (together, “Devonshire Underwriting”), the Managing General Agent (“MGA”) specialising in underwriting transactional risk (“TR”) solutions, is pleased to announce its approval from Lloyd’s to write business in Europe and its official launch into the European market.
Devonshire Underwriting is now able to serve key European markets including the Nordics, Germany, France, Spain, Benelux, Poland, Italy and CEE countries – markets known for their strong, developed M&A environments and substantial TR risk activity. Additionally, there is significant and growing demand across Europe for Tax and Contingent classes.
Key sectors for large transactions will include infrastructure, technology, logistics, healthcare and financial services. Devonshire anticipates a number of large deals emerging throughout the year and the team are involved in early discussions to support transactions by leveraging extensive experience, insight, and contact network.
Focused on positively disrupting the TR insurance market, Devonshire is led by four experienced founders and partners—Natasha Attray, James Dodd, James Fletcher, and Charles Turnham—who are highly-respected specialists in this sector with a collective 30 years of transactional liability underwriting experience, as well as over 15 years of professional experience in law and tax.
Devonshire’s products include Warranty & Indemnity (W&I) Insurance, Tax Insurance, and Contingency Insurance, with a particular focus on a streamlined, responsive underwriting process that embraces creativity and best-in-class service.
Headquartered in London, Devonshire underwrites transactions in the UK, Europe, Middle East, Africa, Asia, South America, Central America, Australasia, and beyond. The company is able to deploy an automatic per-risk line size of up to EUR 35,000,000 pursuant to the terms of the delegated authority from its insurance partners.
Natasha Attray, Partner, Devonshire, said:
“It’s great news to have the green light from Lloyd’s to proceed with our European growth plans. We are excited about the market opportunities in Europe and are in the process of expanding our underwriting team to meet the anticipated demand. More updates will follow as we continue to grow.”
James Dodd, Partner, Devonshire, added:
“With macroeconomic stability returning to Europe, conditions for transactions are improving, creating an ideal environment for our services. We are well-positioned to support this resurgence in both deal activity and tax, W&I, and contingency risk transfer.”
James Fletcher, Partner, Devonshire, said:
“We would like to thank Lloyd’s and Pro MGA Global Solutions for their approval and support, as well as our insurance and broker partners. Their confidence in our vision and capabilities has been instrumental in our launch, and we are dedicated to delivering on our growth plans.”
Charles Turnham, Partner, Devonshire, said:
“The European market presents significant opportunities for innovative TR solutions. Our team’s deep expertise and responsive approach will enable us to capitalise on these opportunities and provide exceptional service to our clients. We look forward to working with our network across Europe to support some of the most significant transactions in the pipeline.”
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Notes to Editors:
About Devonshire
Devonshire is a Managing General Agent (“MGA”) specialising in underwriting transactional risk (“TR”) (or transactional liability) insurance products, operating in the UK and underwriting transactions in the UK, Europe, Middle East, Africa, Asia, South America, Central America, Australasia and beyond.
Devonshire was founded in 2024 by four experts in the TR underwriting sector, bringing together over 30 years of experience.
For more information please visit www.devonshire-underwriting.co.uk
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