AMTRUST MGA, QUALIS CREDIT RISK
AmTrust has created a specialist Mortgage & Credit Managing General Agent (MGA) to administer its existing business and help it develop into other sectors.
The MGA, Qualis Credit Risk, contains two entities, Qualis U.K. Ltd, primarily focusing on UK business, and Qualis Europe Srl, focusing on European business.
In the UK Qualis will predominantly deal with the provision of mortgage indemnity insurance to building societies, banks and other financial institutions to deliver risk mitigation products. In addition, the MGA will allow Qualis to pursue other opportunities in different areas of the financial services market, such as creditor insurance in both the UK and across Europe.
An MGA is a specialised type of insurance agent that is granted underwriting and claims authority by an insurer to administer programs and negotiate contracts of insurance.
Qualis is the latest MGA within AmTrust, which also include Arc Legal Assistance, Car Care Plan, and Collegiate Management Services.
The Qualis MGA will allow the team to continue their work with the existing roster of AmTrust Mortgage & Credit Risk clients with a ‘business as usual’ approach for its existing client base.
Qualis will continue to provide mortgage insurance products to lenders who can access bespoke arrangements they can tailor to their own needs, with many clients utilising them to offer a range of high LTV mortgages to borrowers.
Qualis has been appointed by AmTrust International’s UK and Irish carriers to bind coverage, underwrite and price, settle claims and manage commercial relationships on behalf of AmTrust Europe Limited and AmTrust International Underwriters DAC. Qualis also intends to work with non-AmTrust carriers to tailor specific products to its clients’ needs.
AmTrust said that, operating through an MGA structure better enables Qualis to serve its clients by collaborating with other (re)insurers to provide a greater variety of solutions, including traditional ‘flow’ insurance, portfolio, and structured solutions that provide capital efficiency. It also ensures Qualis has a compliant solution to act as an authorised intermediary within the UK and throughout Europe post-Brexit.
The team at Qualis has significant experience within the specialist area of mortgage and credit risk, having been active in the European market for over 20 years supporting lenders through many economic cycles, including the financial crisis over a decade ago.
About Qualis
Founded with the ambition to unlock the full potential of credit to respond to a changing world, Qualis provides flexible and tailored solutions. With over 20 years of experience, the team works with banks, building societies and insurers, creating long-term partnerships with the aim of creating added value for the whole market. Qualis leverages its experience and consultative approach in underwriting specific risks. Qualis is part of the AmTrust Group and has exclusive agreements with top-tier reinsurers.
For more information: www.qualiscreditrisk.com
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding company headquartered in New York, offers specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage through its primary insurance subsidiaries rated "A" (Excellent) by A.M. Best. AmTrust is included in the Fortune 500 list of largest companies.
For more information about AmTrust visit: www.amtrustfinancial.com.
Lines of Business
- Financial: Guarantee
Address
- Exchequer Court
- 33 St Mary Axe
- London
- Greater London
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- United Kingdom
