What Trilogy Underwriting does

Trilogy Underwriting is a UK-based Managing General Agent (MGA) that designs, prices, and distributes commercial property and casualty insurance products to UK brokers and their insureds. Founded in 2013 and headquartered in London, the firm operates as an Appointed Representative of GB Underwriting Limited, with underwriting authority delegated under an FCA-authorised framework. Trilogy is relationship-led rather than algorithm-driven; its stated proposition is to provide brokers with prompt, professional service rather than automated risk selection.

The MGA's product portfolio spans five core facilities: Material Damage, Liability, Commercial Combined, Contractors All Risks, and Legal Expenses. In January 2024 the firm extended its offering with a Specialist Property Owners wording, Embedded Engineering cover, a new Terrorism facility, and a Contractors All Risks construction building projects product. Distribution is exclusively through the broker channel, covering both wholesale and retail brokers, with no direct-to-consumer or D2C element. The underwriting team is small (approximately eight staff), headed by Chris Blackwell (MD) and Paul Raymen (Senior Underwriter), supported by operational, underwriting, and credit control roles.

Trilogy generates revenue through commission and fee income on policies bound through its delegated authority. In July 2024 the business was acquired by Specialist Risk Group (SRG), integrating it into a larger specialty insurance platform and providing capital, distribution, and likely operational scale. The acquisition marks a structural shift from independent boutique to a within-a-platform MGA, with continued focus on UK commercial P&C lines distributed via brokers.

Name

Trilogy Underwriting

Legal name

Trilogy Underwriting Ltd

Website

https://trilogyunderwriting.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Trilogy Underwriting is a London-based UK MGA, founded 2013, that designs and distributes commercial property and casualty insurance through brokers across five core product lines, operating as an Appointed Representative of GB Underwriting Limited and acquired by Specialist Risk Group in July 2024.

Ownership category

akta.pro rank

Product category

Commercial Property and Casualty Insurance Underwriting

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Managing general agent
• Property casualty insurance
• Commercial underwriting services
• Contractors all risks
• Delegated underwriting authority

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Insurance Underwriting Premiums: Earn underwriting premiums through delegated authority from major insurers. Acts as an MGA (Managing General Agent) providing multiclass products including Material Damage, Liability, Commercial Combined, Contractors All Risks, and Legal Expenses.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Trilogy Underwriting is a Managing General Agent (MGA) that provides technical underwriting and binding of property and casualty insurance products for UK commercial clients under delegated authority from major A-rated insurers. Its product portfolio comprises five core classes — Material Damage, Liability, Commercial Combined, Contractors All Risks (CAR), and Legal Expenses — distributed exclusively through a select panel of wholesale and retail brokers.

Product overview

Trilogy Underwriting is an MGA (Managing General Agent) specializing in technical distribution of property and casualty insurance products. The company operates a multi-product portfolio comprising five core offerings: Material Damage, Liability, Commercial Combined, Contractors All Risks (CAR), and Legal Expenses. The products are distributed through a carefully selected panel of wholesale and retail brokers across the UK. The five products work together to provide comprehensive coverage: Material Damage and Liability serve as foundational covers, Commercial Combined integrates multiple coverages into unified policies, Contractors All Risks addresses construction and plant-specific risks, and Legal Expenses provides supplementary legal protection and advisory services. The company emphasizes tailored wordings and adaptable coverage solutions rather than price-driven offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Material Damage Insurance coverage for physical loss or damage to property, assets and equipment for UK commercial clients, available on specified perils or All Risks basis wordings and including All Risks cover for material damage and business interruption.
• Liability Coverage for employers' liability, public liability and products liability, including sudden and accidental pollution, protecting UK commercial businesses against third-party claims. Available as combined liability or standalone public and products liability.
• Commercial Combined Integrated multi-risk insurance combining material damage, business interruption, liability and additional covers such as money, goods in transit and computers into a single policy for UK commercial businesses.
• Contractors All Risks (CAR) Specialist coverage for contractors including Contract Works (cover up to 125% of original estimated contract value, maximum 2-year duration, offsite storage limits) and Contractors Plant (reinstatement as new for plant under 12 months old, no limitations on hired plant), plus multiple lifting operations covered as standard.
• Legal Expenses Comprehensive legal expenses coverage including employment disputes, tax investigations, VAT disputes, contract and debt disputes, with legal defence costs up to £250,000 and access to 24/7 legal advice helplines, redundancy assistance, ID theft resolution, crisis communication and counselling services.
• Specialist Property Owners Wording Specialist property insurance wording tailored for commercial property owners, residential property owners, landowners and car parks, providing adaptable coverage for property ownership exposures.
• Terrorism Facility Terrorism insurance facility covering commercial property exposures for terrorism events, complementing the Material Damage product portfolio.

Quantifiable outcome

• 24-hour enquiry response target
• +1 more outcomes

Segments7 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Specialist Risk Group (SRG) - MX PillarcoreStrategic or Co-development Partner · 23 July 2024Trilogy Underwriting was acquired by Specialist Risk Group in July 2024 to join their Underwriting pillar, MX. This acquisition expands SRG's footprint in the London Market while supporting wholesale and retail brokers and their clients. MX's acquisitions include Tristar Special Risks, The MPLC, CLS Risk Solutions, Blackrock Insurance Solutions, and GB Underwriting.
• GB Underwriting LimitedcoreChannel Partner/ Reseller/ Distributor · 23 July 2024Trilogy Underwriting Ltd is an Appointed Representative of GB Underwriting Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 304281). GB Underwriting Limited is part of the Specialist Risk Group.
• Resolution UnderwritingminorChannel Partner/ Reseller/ Distributor · 23 July 2024Previous key carrier partner that supported Trilogy over several years before the SRG acquisition. Managing Director Chris Blackwell thanked Resolution Underwriting for their support during the Trilogy journey.
• Major Insurers (A-rated security)coreChannel Partner/ Reseller/ DistributorTrilogy has delegated underwriting authority from major insurers with a minimum of A-rated security published by main rating agencies. This partnership enables financial security for all policyholders.

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Qdos Group: Qdos is a UK-based specialist insurer and MGA-style underwriter offering commercial and niche covers to small and medium enterprises, sharing Trilogy's SME-focused, relationship-led underwriting approach and reliance on broker distribution.
• Rokstone MGA: Rokstone is a London Market specialty MGA focused on commercial property and casualty risks distributed via wholesale and retail brokers — a directly comparable product mix, broker-led GTM, and MGAA-affiliated MGA model to Trilogy.
• CFC Underwriting: CFC is a London-headquartered specialty MGA distributing multi-line commercial insurance through brokers. Like Trilogy, it relies on delegated underwriting authority, empowered underwriter decisions, and broker-led distribution across commercial property, liability, and specialty lines.

Broad incumbents

• Beazley: Beazley is a Lloyd's specialty insurer with significant commercial property, liability, and casualty offerings distributed through brokers. Comparable as an incumbent specialty underwriter occupying the same broker-led P&C market as Trilogy but at meaningfully larger scale.
• Brit Insurance: Brit is a UK-listed specialty insurer writing commercial property, casualty, and specialty lines primarily through the London Market and broker network. Comparable as a London-based specialty incumbent sharing broker distribution and product categories with Trilogy.
• Markel International: Markel International is the London/Lloyd's specialty arm of Markel Group, underwriting commercial property, liability, and specialty risks through brokers. Comparable as a specialty incumbent with overlapping broker-driven P&C product set, though operating at a substantially larger scale than Trilogy.
• Hiscox UK: Hiscox is a major UK specialty insurer writing commercial property, liability, and specialty lines through brokers. It overlaps with Trilogy across product categories and broker channel but operates on a much larger balance sheet with broader portfolio scope.

Emerging players

• Accelerant: Accelerant is a data-driven specialty MGA platform underwriting complex commercial risks in the UK/London and US markets. It is comparable as a tech-enabled MGA competing for the same broker relationships and delegated capacity, though with materially more capital and a digital underwriting stack.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/Trilogy30425364
• LinkedInlinkedin.com/company/trilogy-underwriting-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trilogy Underwriting