The collaboration builds upon an existing arrangement under which Zurich already provides capacity for iprism’s trades and professions and retail package products. Credit: PeopleImages.com – Yuri A/Shutterstock.

UK-based specialist managing general agent (MGA) iprism has entered a capacity agreement with Zurich insurance, deepening its existing alliance with the Swiss insurer.  

Under the new multi-year deal, Zurich will offer property and casualty insurance capacity to iprism for its property owners as well as commercial combined products. 

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This builds upon an existing arrangement under which Zurich already delivers capacity for iprism’s trades and professions and retail package products.  

The deal is estimated to generate up to £30m in GWP. 

Iprism CEO Ian Lloyd stated: “This is an exciting long-term partnership for iprism. Broadening our relationship with Zurich brings the kind of financial strength and stability we look for in our capacity partners. As an independently owned MGA, we offer our brokers an attractive combination of quality markets in which to place their commercial business, with in house underwriting authority and expertise.” 

Zurich UK retail head David Nichols said: “iprism has built a strong reputation for choice, underwriting acumen and profitability. We are confident that they will continue to deliver strong results and the kind of underwriting discipline and risk selection we expect from our partners.”  

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Iprism has completed two acquisitions to date.  

In 2022, the company acquired Metier Trading, trading as Metier Underwriting, known for underwriting hard-to-place contractor liabilities within the construction, leisure, events and security industries. 

In 2023, iprism took over SK Underwriting, a property-focused MGA based in Kent.