Expert Support for the Lloyd’s, London and International Insurance Markets

Intermediary Services

Intermediary Services

MGA Services

MGA Services

Working with MGA and Lloyd’s Coverholder start ups to provide a professional launch platform.

Launch and Host

Davies, through their subsidiary Ambant Underwriting Services, are a leading provider of fee-for-service MGA incubation services.

The service covers:

  • Authorisation Status
  • Underwriting System
  • Financial Management
  • Underwriting Management Controls
  • Management Information
  • A full or bespoke back office operational support infrastructure across all functions
  • Compliance, Regulation and Governance support
  • Distribution and Capacity Management
  • Product & Business Development

Regulatory Support

  • Davies, through their subsidiary, Ambant Underwriting Services (AUS), provides a regulatory framework that allows fledgling MGAs to become an Appointed Representative of AUS and thus come under the umbrella of AUS’s own FCA permissions.

Our regulatory and governance support framework includes:

  • The provision of fully segregated client trust accounts for the handling of client money
  • Reconciliation of trust accounts to the ledger in accordance with FCA CASS rules
  • Guidance on complaints procedures, anti-money laundering procedures and the detection and prevention of financial crime.

AUS can also provide technical and regulatory support and assistance on any applications that are being made to the Financial Conduct Authority for direct authorisation.

Broker Services

Broker Services

Lloyd’s Broker’s – Ambant Limited & Requiem Limited

Davies Insurance Services contains two legal entities which act as FCA authorised intermediaries with Lloyd’s accreditation.  Both have existing relationships with a significant portion of the Lloyd’s and London Insurance Market.

These fully independent intermediaries can provide:

  • Open Market Support
  • Broker Turnkey
  • Regulatory Support
  • Broker Replacement
  • Broker Wrap
  • Back Office Support and Services

Open market support

Having TOBA’s in place and existing business relationship with a significant proportion of the London Market, Ambant is able to provide capacity support in a wide range of insurance classes and disciplines.

Broker Turnkey

Direct Access to the Lloyd’s market

We offer the following package of services for brokers who want to access the Lloyd’s Market:

  • Assistance with business plan to present to Lloyd’s
  • Completion of regulatory and statutory applications and filings
  • Obtaining Lloyd’s broker number • Setting up and testing of all links with Xchanging
  • Drafting and management of TOBAs
  • Assistance with setting up bank accounts
  • On-going compliance support
  • Office space option
  • All transactional processing (premiums, claims)
  • Endorsements and issuance of cover
  • All fiduciary accounting
  • Client money reporting and reconciliation
  • Claims handling and broking
  • Provision and maintenance of relevant systems
  • Resource support
  • Appointed representative facility

Appointed Representatives 

Davies, through their subsidiaries Ambant Limited and Requiem Limited, provides a regulatory framework that allows fledgling Intermediaries to become an Appointed Representative and thus come under the umbrella of Davies subsidiaries own FCA permissions.

Our regulatory and governance support framework includes:

  • Access to the Lloyd’s and International Markets
  • The provision of fully segregated client trust accounts for the handling of client money
  • Reconciliation of trust accounts to the ledger in accordance with FCA CASS rules
  • Guidance on complaints procedure, anti-money laundering procedures and the detection and prevention of financial crime.

Davies can also provide technical and regulatory support and assistance on any applications that are being made to the Financial Conduct Authority for direct authorisation.

Broker Replacement and Consolidation

Davies has an outstanding track record of providing effective Broker Replacement Services by:

  • Assuming full broker of record responsibilities
  • Assuming full broker of record responsibilities, including portfolio acquisition.
  • Providing assureds or cedants with an enhanced collection service
  • Providing incumbent brokers with the reassurance that issues will be dealt with in a professional, cost effective and regulatory compliant manner.

Broker Wrap

Removing the uncertainty of legacy business:

Legacy business frequently takes valuable resource in a broking firm away from their primary role of winning and servicing ‘live’ business and negatively impacts results and bottom line costs.  Requiem’s ‘Broker Wrap’ will enhance the value of the broker’s live business, removing the uncertainty and challenges associated with legacy business.

Broker Wrap takes all the legacy issues away from the broker from a set point in time.  Where it is able to do so, Requiem purchases the legacy entity in its entirety, for a nominal purchase price and an agreed fee to cover the run-off.  If it is not possible to acquire the entity, the wrap can still be completed by securing client consent to the transfer.

There are significant benefits from this approach:

  • It allows the broker to walk away from legacy issues for a one-off and identified upfront fee with no hidden extras
  • It will often provide significant cost savings, in most cases of at least 30%, when compared with the expected run-off costs
  • It will also deliver a drastic reduction in the run-off period. In a typical reinsurance run-off, the legacy period may extend beyond 10 years, whereas the wrap will allow a broker to clear the legacy and remove their ongoing responsibilities within 12 months.

Back Office Services

A number of services are available, including:

  • Administration
  • Technical and Accounting
  • Broker Audits
  • Temporary resource (insource and outsource).
  • Risk Data capture
  • Policy documentation production
  • Bordereau management
  • Claims processing
  • Premium/reinsurance credit control
  • Ledger reconciliation

Service Company Services

Service Company Services