XS Direct's UK MGA stops writing new business
The Irish broker, which acts as an MGA in the UK, stopped accepting new business from 7 January after it was unable to renew its agency agreements with insurers. Its renewals business will also cease from 1 March.
XS Direct Insurance Brokers revealed that its managing general agent (MGA) arm stopped accepting new business on 7 January.
The Dublin-based broker acted as an MGA in the UK on behalf of Calpe Insurance Company, Watford Insurance Company Europe and Alwyn Insurance Company.
According to a press statement released by XS Direct, the agency agreements with the insurers have not been renewed for a further term, and therefore the company has decided to no longer accept new business.
Moreover, its
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