Alternative risk transfer MGA USQRisk launches London platform

US-based alternative risk transfer MGA USQRisk has launched a London platform, with former QBE executive David Hall as UK CEO, Allianz’s Jonathan Richardson joining as UK CUO and Hall’s former QBE colleague Tony Harrington-Jones as UK COO and head of business development, The Insurer can reveal.

USQRisk emerged this time last year, founded by former Allianz executive Anibal Moreno and other industry executives, to deliver bespoke (re)insurance and capital solutions as well as launch MGA programs, backed by capacity from a panel of (re)insurers.

And, after significant traction in its first 12 months of operation in the US that has seen it underwrite, structure and close more than $100mn of gross written premium for its carrier partners, the firm has now established its UK subsidiary, USQRisk (UK) Limited.

Hall – the former global director of sales excellence and customer commitment at QBE – has formally been appointed UK CEO and is charged with leading expansive USQRisk in the country, alongside Richardson and Harrington-Jones.

Confirming the appointments, USQRisk told this publication that the UK entry comes at a time when corporate buyers globally continue to face large rate increases in the traditional (re)insurance market and are increasingly looking for alternative risk solutions to manage volatility and costs.

In his previous role, Hall built, coordinated and executed a global client engagement framework and sales playbook to “harness cross-company and divisional talent to drive optimal profitable growth”, said the firm.

Hall had previously been a managing director at Aviva Corporate & Specialty Risk, where he created a new standalone corporate and specialty risk business. Before that he was CEO of Zurich Global Corporate UK.

Richardson was previously a managing director at Allianz’s alternative risk transfer team in the UK, where he led the underwriting and ongoing management of large bespoke transactions.

He joined Allianz from Willis Re, where as an embedded broking team actuary he structured and priced reinsurance programs and advised clients on risk appetite and buying strategies.

Meanwhile, Harrington-Jones was most recently global head of sales reporting and analysis – global sales excellence at QBE. He was a technology lead across divisions covering reporting, analytics and Salesforce platform.

Commenting on the hires, USQRisk group CEO Moreno said the move to establish a platform in the UK comes on the back of “tremendous growth” in the US.

“We feel this is the perfect time for USQ to build out a highly accomplished, complementary team in the UK with expansive client and broker contacts, structuring and pricing expertise, a history of building portfolios ground-up, and while leveraging data and analytics to drive growth,” he said. 

The executive added that the UK appointments expand the group’s underwriting and leadership depth.

Other key executives at the group level include president and legal officer Michael Zipper and CUO Parag Bavishi.

In the US, the firm has also been adding business line heads and developing its MGA platform, with Karen Sullivan joining from Aon as head of property, and Amauri Taveras from Allianz as head of financial lines.

The company focuses on delivering bespoke (re)insurance and capital solutions at a time of continuing uncertainty for many businesses, as well as developing programs that it says provide additional value and security to corporate clients and their end customers.

Its three-pillar approach – alternative risk for corporate clients, a dual programs strategy and advisory services – is designed to provide a holistic approach to the risk marketplace.