Magenta Insurance

What Magenta Insurance does

Magenta Insurance is a UK Managing General Agent (MGA) operating as a trading name of DUAL Corporate Risks Limited, a subsidiary within the DUAL Group (Howden Group Holdings). Founded circa 1992 and based in Bury Saint Edmunds, East Anglia, the company employs approximately 30 people and underwrites a specialist portfolio of nine residential property insurance products — Special Risk, Flood, Prestige, Renovation, Unoccupied, Holiday Home, Home, Let, and Non-Standard Home — plus three Acturis/Applied platform tiers (Premier, Premium, Specialist). Its underwriting focus is non-standard and difficult-to-place risks: subsidence, flood, listed buildings, unusual construction, criminal convictions, poor claims history, holiday lets, unoccupied properties, and high-net-worth residences. Underwriting capacity is sourced primarily through Lloyd's of London and a panel of A-rated insurers including Tokio Marine HCC, AXA, Canopius, AMTrust, Arc Legal, and Arag.

Magenta operates an exclusively B2B distribution model, selling exclusively through UK insurance brokers and Independent Financial Advisers (IFAs). Transactions are executed via the proprietary Magenta EVO online trading platform, supplemented by electronic access through the Acturis and Applied insurance platforms. The Magenta EVO platform incorporates automated decision-making logic to assess eligibility and determine premium and excess terms. Magenta also participates in the government-backed Flood Re scheme and holds BIBA (British Insurance Brokers' Association) scheme provider status. All insurer capacity carries a minimum 'A' rating, and the entity is authorised and regulated by the FCA under firm reference 312593.

Revenue is generated through underwriting commissions and binding-authority fees on premiums placed via brokers and IFAs, with annual quote-based pricing determined per risk. The company has no external funding rounds, no disclosed subsidiaries, and no record of M&A activity. Its strategic positioning rests on three pillars: (1) specialisation in non-standard property risks underserved by mainstream insurers; (2) Lloyd's-backed capacity providing flexibility for complex cases; and (3) a relationship-led broker/IFA channel supplemented by proprietary and aggregator technology platforms.

Name

Magenta Insurance

Legal name

DUAL Corporate Risks Limited

Website

https://magentainsurance.co.uk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Magenta Insurance is a UK-based Managing General Agent underwriting non-standard and complex residential property insurance products (Special Risk, Flood, Prestige, Holiday Home, Unoccupied, Let, Renovation, Home) and distributing them exclusively to insurance brokers and IFAs through its Magenta EVO trading platform and Acturis/Applied aggregators, with capacity sourced via Lloyd's.

Ownership category

akta.pro rank

Product category

Property Insurance Underwriting

NAICS

Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Property underwriting agency
• Non-standard home insurance
• Managing general agent
• Residential property insurance
• Broker distribution insurance

Headquarters

HQ city

Bury Saint Edmunds

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Insurance Underwriting: Magenta Insurance acts as a Managing General Agent, underwriting and distributing property insurance products exclusively through brokers and IFAs. The company sources its underwriting capacity primarily through Lloyd's and other A-rated insurers. Revenue is generated through premiums collected on placed insurance policies, with the company earning underwriting commissions and binding authority fees.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Magenta Insurance operates as a Managing General Agent (MGA) underwriting non-standard and complex residential property insurance products for distribution exclusively through UK insurance brokers and Independent Financial Advisers (IFAs). The company sources its underwriting capacity primarily through Lloyd's of London and A-rated insurer partners (Tokio Marine HCC, AXA, Canopius, AMTrust), offering nine core property insurance products covering special risk, flood, prestige, renovation, unoccupied, holiday home, standard home, landlord, and non-standard home risks. Policies are transacted via the proprietary Magenta EVO online trading platform as well as through Acturis and Applied insurance platform aggregators.

Product overview

Magenta Insurance is a property underwriting agency offering a portfolio of 9 core residential insurance products through brokers and IFAs in the UK. The product suite includes specialized coverage for difficult-to-place risks (Special Risk, Non-Standard Home), standard home coverage (Home), high-value properties (Prestige), landlord coverage (Let), unoccupied properties, holiday homes, renovation projects, and flood coverage via Flood RE. Products are distributed through magenta's own trading platform and via Acturis/Applied platforms with Premier, Premium, and Specialist tiers. Underwriting capacity is primarily sourced through Lloyd's with A-rated insurers.

Differentiator

Problem solved

Functional benefit

Products and services

• Magenta Special Risk Special risk residential property insurance for difficult-to-place risks including mill conversions, huf haus, unusual construction, criminal convictions, poor claims history, or commercial properties converted to residential flats. Offers up to £1,500,000 buildings cover and £75,000 contents cover. Targeted at brokers and IFAs serving end-property owners with non-standard risk profiles.
• Magenta Flood Property insurance providing access to Flood RE government-backed scheme for flood cover, designed for properties that have previously flooded or are in high flood risk areas where standard cover may be unavailable. Targeted at brokers and IFAs placing residential flood-risk properties.
• Magenta Prestige Higher value Buildings and Contents policy designed for mid/high net worth individuals with rebuild cover from £500,000 and contents cover from £75,000. Includes worldwide all risks cover, alternative accommodation up to 3 years, and £10,000 single article limit for valuables. Targeted at brokers and IFAs serving high net worth clients.
• Magenta Renovation Property insurance covering homes during renovation or refurbishment projects. Covers escape of water, subsidence, theft, malicious damage, and includes £2,000,000 property owner's liability. Targeted at brokers and IFAs placing properties undergoing renovation work.
• Magenta Unoccupied Insurance for unoccupied residential properties covering fire, storm, flood, escape of water, theft, subsidence, and malicious damage. Offers flexible short-term cover with minimum one-month contracts suitable for properties between tenants, in probate, or awaiting sale. Targeted at brokers and IFAs placing vacant properties.
• Magenta Holiday Home UK holiday home insurance covering holiday homes, occasional stays, Airbnb rentals, residential holiday lets, and properties owned by overseas residents. Includes accidental damage, home emergency, and Flood RE compatibility. Targeted at brokers and IFAs placing holiday and short-term let properties.
• Magenta Home Standard residential home insurance policy with up to £75,000 contents cover, legal expense cover up to £50,000, basic accidental damage as standard, and alternative accommodation up to £25,000. Targeted at brokers and IFAs placing standard residential home insurance.
• Magenta Let Landlord property insurance covering up to £1,000,000 of buildings cover with automatic inclusion of carpets, curtains, blinds and white goods. Includes up to £20,000 cover for malicious acts by tenants and loss of rent cover up to £50,000. Targeted at brokers and IFAs placing landlord and rental properties.
• Magenta Non-Standard Home Non-standard property insurance partnered with BIBA offering flexible coverage with A-rated insurers for non-standard construction, poor claims history, criminal convictions, listed buildings, previous subsidence, and flood risk properties. Home cover up to £1.5M BSI / £150k CSI. Targeted at brokers and IFAs needing BIBA-scheme access for non-standard risks.
• Acturis/Applied - Premier Product designed for clients using property as main home or holiday home in England, Wales or Scotland, distributed via Acturis and Applied platforms. Offers flexibility with higher inner limits, risks up to 8 bedrooms, £15,000 single article limit, and covers complex or unusual risks. Targeted at brokers using Acturis or Applied trading platforms.
• Acturis/Applied - Premium Product for main home properties within England, Scotland and Wales with up to five bedrooms, built from 1850 onwards, distributed via Acturis and Applied. Maximum claims limits of £1,000,000 under Buildings and £100,000 under Contents. Targeted at brokers using Acturis or Applied trading platforms.
• Acturis/Applied - Specialist Product for landlords with residential properties, holiday lets, and longer-term unoccupied properties awaiting probate or sale, distributed via Acturis and Applied. Includes £5,000,000 employers liability. Targeted at brokers using Acturis or Applied trading platforms.

Quantifiable outcome

• Covered a complex flood claim exceeding £200,000 involving a boundary wall dispute related to building regulations and betterment.
• +2 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• BIBA (British Insurance Brokers' Association)coreStrategic or Co-development PartnerMagenta Insurance is a BIBA scheme provider, offering flexible coverage with A-rated insurers for non-standard home and unoccupied property risks. The BIBA partnership enables Magenta to market its products to BIBA's member broker network as a preferred specialist insurer for difficult-to-place risks.
• Tokio Marine HCCcoreTechnology or IntegrationTokio Marine HCC is one of Magenta Insurance's key insurer partners, providing underwriting capacity. All Tokio Marine capacity carries a minimum 'A' rated security, backing Magenta's property insurance products.
• AXAcoreTechnology or IntegrationAXA is a key insurer partner providing underwriting capacity for Magenta's property insurance products. AXA-backed policies are distributed through Magenta's broker network with A-rated security.
• CanopiuscoreTechnology or IntegrationCanopius is a key insurer partner providing underwriting capacity for Magenta's property insurance products, contributing to the insurer network that backs Magenta's policies.
• AMTrustcoreTechnology or IntegrationAMTrust is a key insurer partner providing underwriting capacity for Magenta Insurance's property products, with AMTrust Legal specifically providing legal expenses insurance capabilities.
• DUAL GroupcoreStrategic or Co-development PartnerMagenta Insurance is a trading name of DUAL Corporate Risks Limited, part of the DUAL Group (Howden Group Holdings). DUAL is one of the world's largest international underwriting agencies with longstanding reputation for underwriting expertise. The partnership provides Magenta with regulatory backing (FCA FRN 312593), Lloyd's capacity access, and the broader Group's infrastructure and reputation.
• Lloyd's of LondoncoreTechnology or IntegrationMagenta Insurance sources its underwriting capacity primarily through Lloyd's of London, which provides the underwriting flexibility needed to handle highly complex property risks. Lloyd's is the primary capacity source underpinning the entire Magenta product suite.
• Flood RecoreStrategic or Co-development PartnerFlood Re is a government-backed scheme that enables insurers to offer flood cover for properties that have previously flooded or may flood in the future. Magenta Flood provides access to Flood Re for eligible residential properties (UK homes with Council Tax bands A-H). Flood Re has been established for 25 years to allow communities to become better prepared for flooding.
• Alan Boswell GroupminorChannel Partner/ Reseller/ DistributorAlan Boswell Group is an insurance broker partner shown in the Broker/IFA section of the Magenta Insurance website, representing Magenta's distribution through established broker networks.
• Hedron NetworkminorChannel Partner/ Reseller/ DistributorHedron Network is a broker network partner shown in the Broker/IFA section, representing Magenta's distribution through established broker networks.
• Cobra NetworkminorChannel Partner/ Reseller/ DistributorCobra Network is a broker network partner shown in the Broker/IFA section, representing Magenta's distribution through established broker networks.
• ActuriscoreTechnology or IntegrationActuris is an electronic insurance platform through which Magenta Insurance transacts three products: Premier, Premium, and Specialist. The Acturis platform enables brokers to quote and bind Magenta policies electronically for standard and non-standard household, let property, holiday home and unoccupied risk.
• AppliedcoreTechnology or IntegrationApplied is an electronic insurance platform (alongside Acturis) through which Magenta Insurance transacts its Premier, Premium, and Specialist products, enabling brokers to access Magenta's non-standard property insurance products via electronic trading.

Scale indicators4 records

Expansion highlights4 records

Broad incumbents

• Direct Line Group: Major UK personal-lines group (Direct Line, Churchill, Privilege) with a large household property book; competes with Magenta on standard and lets business via price-comparison and broker channels.
• Hiscox UK: London Market and UK specialty insurer with a dedicated high-net-worth and non-standard home book; competes with Magenta in prestige and complex residential property via broker distribution.
• Aviva UK: UK's largest general insurer with a broad household property franchise; competes in standard and some non-standard home via direct and broker channels, putting it on a broader collision course with Magenta's standard home and non-standard products.
• Covéa Insurance: UK mutual-owned general insurer with a sizeable household and landlord property book, including higher-risk residential risks, distributed through brokers — directly overlapping Magenta's standard and non-standard home segments.
• QBE UK: Global insurer with a UK specialty and personal-lines book (including legacy ERS syndicate business), competing with Magenta for broker-placed non-standard and complex residential risks sourced from Lloyd's and A-rated capacity.
• Royal & Sun Alliance (RSA): International insurer with a UK personal-lines book including More Than/NIG; competes in household and landlord property insurance through broker and aggregator channels similar to Magenta's distribution.
• Ageas UK: One of the UK's largest general insurers with a household property book that covers more complex risks; provides claims servicing for Magenta and competes for similar broker-placed residential business.

Emerging players

• Accelerant: Specialty MGA platform/aggregator that binds and services niche underwriting including property; increasingly active in the UK MGA ecosystem that Magenta operates in, and competes for binding authority from similar Lloyd's and A-rated capacity providers.

Regional players

• NFU Mutual: UK mutual insurer with a substantial rural and high-value home book, distributed through a regional agency network; overlaps Magenta's farm, listed-building, and prestige homeowner segments in the UK market.

Direct peers

• Plum Underwriting: UK MGA specialising in non-standard household and high-value residential property, distributed via brokers — operating in essentially the same niche as Magenta with a similar Lloyd's-backed binding-authority model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/magenta_insure

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Magenta Insurance