Mithras Underwriting

What Mithras Underwriting does

Mithras Underwriting is a wholesale insurance intermediary and Lloyd's Coverholder that arranges specialty insurance products exclusively on behalf of other insurance intermediaries, with no direct contact with ultimate policyholders. The group operates through two coordinated entities: Mithras Underwriting Europe SRL (Belgian wholesale insurance intermediary, FSMA-registered under No. 0707.893.825, acting as Coverholder on behalf of Lloyd's Brussels) and Mithras Underwriting Limited (UK underwriting agency, FCA-authorized under FRN 514679 and operating as the underwriting clone of Lloyd's Broker BDB Ltd). Both are subsidiaries of BDB Holdings Ltd, an operative-owned holding company, with corporate branding alignment to Brown & Brown and membership in Bridge Specialty International.

Coverage spans accident and health, professional indemnity, motor, yacht, liability, property, fine art and jewellery, and marine risks, placed through Lloyd's and the London Market. The company maintains a tri-jurisdictional footprint with headquarters in Brussels and operating branches in London (UK Branch under FCA FRN 983437) and Milan (Italian Branch under IVASS UE00012766), supported by multilingual staff. The core value proposition is providing EU and UK insurance intermediaries with access to Lloyd's and London Market underwriting capacity, combined with cross-border language coverage and claims handling supported by the agency's market position.

Revenue is generated through commissions paid by insurance undertakings on contracts arranged by Mithras; the firm does not work exclusively with any single carrier and does not provide advice on insurance products. Pricing is quote-based and risk-specific, with no publicly disclosed rates. The GTM motion is entirely channel-driven: direct engagement with insurance professionals through established broker relationships and industry networks, supplemented by a broker-facing servicing portal. The company has 51-100 employees and was created in 2018 to expand the European business originally developed under the BDB Group.

Name

Mithras Underwriting

Legal name

Mithras Underwriting Limited

Website

https://mithras-europe.eu

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

Mithras Underwriting is a wholesale insurance intermediary and Lloyd's Coverholder that arranges specialty insurance products (accident and health, professional indemnity, motor, yacht, property, fine art, marine) through Lloyd's and the London Market exclusively for other EU and UK insurance intermediaries, with no direct policyholder contact.

Ownership category

akta.pro rank

Product category

Wholesale Insurance Intermediation

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro industry

PRIMARYFSAEADAD

Wholesale Insurance Brokerage (Excess & Surplus Lines)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

Keywords

• Wholesale insurance intermediary
• Lloyd's Coverholder
• Specialty insurance underwriting
• Insurance broker services
• London Market insurance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Wholesale Insurance Intermediation: Mithras Underwriting Europe SRL operates as a wholesale insurance intermediary arranging insurances on behalf of other EU insurance intermediaries. The company earns remuneration by way of commission from insurance undertakings in relation to insurance contracts. The company does not work exclusively with any insurance undertaking.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels1 record

Core offering

Mithras Underwriting operates as a wholesale insurance intermediary and Lloyd's Coverholder, arranging insurance products through Lloyd's Brussels and The London Market exclusively on behalf of other insurance intermediaries. The group covers specialty risks including accident and health, professional indemnity, motor, yacht, liability, property, and fine art and jewellery, with operations in Belgium, the UK, and Italy supported by multilingual staff.

Product overview

Mithras Underwriting operates as an underwriting agency and Lloyd's Coverholder providing wholesale insurance products and services. The group consists of two main entities: Mithras Underwriting Limited (UK-based FCA-authorized underwriting agency, FRN 514679) and Mithras Underwriting Europe SRL (Belgian wholesale insurance intermediary, FSMA authorized). Both entities arrange wholesale insurance products through Lloyd's and The London Market covering risks including accident and health, professional indemnity, motor, and yacht. Mithras Underwriting Europe SRL also offers a dedicated Claims Service and operates through UK and Italian branches. The company functions as a wholesale insurance intermediary arranging coverage for other insurance intermediaries, with no direct contact with ultimate policyholders.

Differentiator

Problem solved

Functional benefit

Products and services

• Mithras Underwriting Europe SRL Wholesale Insurance Services
• Mithras Underwriting Limited UK Insurance Services
• Mithras Underwriting Europe SRL Claims Service
• Mithras Underwriting Limited Claims Service

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• BDB LtdcoreStrategic or Co-development PartnerBDB Ltd is a Lloyd's Broker and the parent company's underwriting clone. Both Mithras Underwriting Limited and BDB Ltd are subsidiaries of BDB Holdings Ltd, an independent company wholly owned by its operatives.
• BDB Holdings LtdcoreStrategic or Co-development PartnerBDB Holdings Ltd is an independent company wholly owned by its operatives. Parent company of both Mithras Underwriting Limited and BDB Ltd.
• Lloyd's Brussels (Lloyd's Insurance Company S.A.)coreStrategic or Co-development PartnerCoverholder arrangement with Lloyd's Brussels, a subsidiary of Lloyd's authorised by the National Bank of Belgium. Mithras Underwriting Europe SRL acts as Coverholder on behalf of Lloyd's Brussels.
• Bridge Specialty InternationalminorStrategic or Co-development PartnerMithras Underwriting Europe SRL is a member of Bridge Specialty International, indicating membership in a specialty insurance group network.
• Brown & BrownminorOthersBrown & Brown logos appear on the website footer. While the relationship is not explicitly stated as ownership, the presence of Brown & Brown branding (including their Global Privacy Statement and cookie policies) suggests a corporate parent or affiliate relationship. The company appears to operate under Brown & Brown's corporate infrastructure.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Howden Group: Global insurance intermediary group with significant Lloyd's and London Market wholesale operations, plus European specialty broking. Comparable wholesale distribution model and focus on specialty lines for intermediary clients.
• Ascot Underwriting Group: Lloyd's-focused specialty underwriting group operating multiple syndicates across professional indemnity, marine, and aviation. Comparable as a Lloyd's-aligned specialty underwriting operation placing business through intermediaries.
• Beazley plc: Lloyd's-listed specialty insurer and underwriting group with a strong wholesale/Coverholder distribution arm. Comparable product mix across professional indemnity, marine, and specialty casualty, and similar Lloyd's Coverholder positioning.
• Hiscox Ltd: Lloyd's-listed specialty insurer with significant wholesale/broker distribution and a European operation spanning UK, Belgium, and other EU markets. Comparable specialty underwriting and intermediary distribution model.
• Apollo Syndicate (Apollo IB): Lloyd's underwriting group with multiple specialty syndicates. Comparable as a Lloyd's Coverholder/underwriting group placing specialty business through intermediaries, particularly in marine and casualty lines.
• RPS Group: UK-based wholesale insurance broker and Lloyd's broker serving specialty lines including fine art, yacht, and professional indemnity. Highly comparable as a wholesale intermediary channeling London Market capacity to retail brokers across the UK and Europe.

Emerging players

• Bridge Specialty International: Specialty insurance group network of which Mithras is a member. Comparable as a Lloyd's Coverholder-aligned specialty platform, but operating as a coordinating network rather than a single underwriting entity.

Broad incumbents

• AXA XL: Global specialty P&C insurer and reinsurer with significant London Market and European operations. Comparable specialty lines including professional indemnity and marine, but operating as a carrier rather than wholesale intermediary.
• Munich Re Specialty: Global specialty reinsurer with significant Lloyd's and London Market presence. Comparable specialty capacity provider but operating as a major carrier/reinsurer rather than wholesale intermediary.
• Marsh Specialty (Marsh McLennan): Global specialty insurance broker and risk advisory arm of Marsh McLennan. Comparable in specialty placement and London Market access, but operating at much larger scale and with broader retail broker relationships.

Market position

Strengths5 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mithras-underwriting-europe

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 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 Mithras Underwriting