Start-up MGA Aurenity linked with move for Brit exec Trainor
Newly launched tech-enabled MGA Aurenity has been linked with a move to hire former Brit Americas head of casualty and professional lines Douglas Trainor.
Sources suggested that the executive is likely to re-emerge at Aurenity as president and CUO in a move that would reunite him with his former Brit Americas colleague Nick Davies at the Agman-backed start-up.
It is thought that Connecticut-based Trainor – who was an executive vice president at Brit – is currently on gardening leave after resigning from the company, which last year reorganized its US operations as Ambridge Partners.
Trainor joined Brit in 2010 from Catlin, where he was in the property facultative division for three-and-a-half years after starting his career at The Hartford as a professional liability underwriter.
As revealed by this publication earlier this week, Davies is CEO of Aurenity, which has launched with a $10mn investment from Agman. Davies is also an operating partner at the entrepreneurial investment firm, which he joined last May.
The MGA will target the E&S market, using cutting-edge underwriting analytics to set technical pricing for exposures as it looks to deliver sustainable profitability to its carrier partners across the cycle.
The start-up has also hired former Travelers executive Patrick Safino as COO and is understood to be in discussions with underwriting executives and teams as it prepares to add to its management and unveil its first product during Q1 2022.
Aurenity is currently engaging with capacity providers including reinsurers, and will target entrepreneurial talent with a pedigree in delivering underwriting profitability.
The MGA will initially target casualty and professional lines products where there is dislocation between market and technical price and demand outstrips supply because of exposure and experience inflation, said the start-up in a statement confirming the launch.