Alta Signa, a European managing general agent (MGA), has forayed into writing primary directors’ and officers’ (D&O) insurance in the Italian market.
The expanded underwriting facility by Alta Signa’s Italian unit, Alta Signa Italy, is aimed at meeting the demand for bespoke primary D&O insurance.
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Through the launch, the Brussels-headquartered Alta Signa is targeting small and medium-sized enterprises (SMEs) across sectors that generate revenue between €50m and €500m.
The move is also said to complement Alta Signa Italy’s existing excess lines insurance proposition in the local market.
Alta Signa said it is backed by five capacity providers from Company Markets and Lloyd’s Europe.
Alta Signa Italy branch manager Marina Chierici said: “There is a gap in the primary Italian D&O market for an insurance proposition backed by local expertise and service, offering tailor-made quotes. In a market geared towards facilities and automatic quoting systems, speaking with local Tier 1 and Tier 2 brokers revealed strong demand for non-standard solutions from a proactive and responsive provider.
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By GlobalData“I am really pleased to be able to provide this offering, which, backed by our in-house claims team, brings the highly efficient and individualised service that we know Italian regional brokers are looking for.”
In July this year, Bermuda-based speciality re/insurer SiriusPoint made an undisclosed investment in Alta Signa. SiriusPoint has also been a capacity provider for Alta Signa since January this year.
