Merger offers access to Lloyd’s and worldwide markets as investors focus attention on forestry for carbon sequestration
Specialty MGA UK, a recently formed MGA focused on providing additional capacity for specialty lines of businesses, has expanded its global reach and expertise through the acquisition of the ForestRe team, as Phil Cottle joins his former colleagues, Daniel Longden and Yuming Zhi at the MGA.
Group Chairman Manoj Kumar said the merger meant ForestRe’s clients would get ”the benefit of enhanced underwriting capacity as well as continued investment in the latest products and services - including parametric insurance products - making its expertise even more accessible and giving its global clients access to the Lloyd’s market.”
Phil Cottle has been a leader in forestry and crop risk insurance for three decades and is a recognised global expert on plantation management.
The team from ForestRe are global leaders in specialist services for commercial forests and plantations and provide insurance services for clients including independent forestry owners, commercial forest enterprises, timber merchants and saw log producers.
Its portfolio extends to 30 countries including Australia, New Zealand, South East Asia, Southern Africa, Latin America and many US states including Alaska.
Cottle said Specialty MGA UK was one of the few companies within the forestry industry with access to Lloyd’s and worldwide markets.
“The launch of the Forests and Climate Leaders’ Partnership at COP27, demonstrated the vital role specialist insurers can play,” he continued.
“We are working on a number of projects with investors and major brokers involving forestry investment for carbon sequestration and reduced emissions, to help protect forests worldwide.”