First Underwriting
First Underwriting is a UK specialist Managing General Agent that underwrites niche and hard-to-place insurance lines — specialist motor, real estate, travel bonds, tour operators' liability, professional indemnity and bespoke schemes — exclusively through specialist insurance brokers under a multi-year capacity arrangement with Accredited Insurance Europe.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingServices
What First Underwriting does
First Underwriting is a UK-domiciled specialist Managing General Agent (MGA) founded in 2018 and headquartered at The Gherkin, 30 St Mary Axe, London. The firm operates exclusively on a B2B2C basis, distributing niche insurance products through specialist insurance brokers rather than directly to policyholders. Its product portfolio spans specialist motor (fleet, agricultural, enthusiast/classic, motor trade, motorsport), UK commercial and residential real estate, travel bonds (CAA and ABTA), tour operators' liability, professional indemnity, leisure (caravans and motorhomes), and bespoke schemes for risks that mainstream carriers decline. Underwriting teams cite multi-decade domain expertise (30+ years in travel bonds, 50+ years in real estate), and the firm also operates Slipstream Underwriting as a motorsport-focused sub-brand.
The business model centres on underwriting specialist risks under a 5-year capacity arrangement with Accredited Insurance (Europe) Limited (A-rated by A.M. Best), with reinsurance arranged by McGill and Partners, providing capacity to place approximately £1bn of gross written premium over the arrangement's term. Pricing is quote-based and risk-specific rather than tiered, with brokers contacting named underwriters directly for unusual or hard-to-place risks. Claims are handled through specialist partners: AAC for motor, Kennedys Law for professional indemnity and Kingsbridge, Crawco for property, and DWF for travel and tour operators' liability crisis response. The firm is FCA-authorised (No. 624585), GDPR-compliant, and wholly owned by Kingfisher UK Holdings Ltd, which is itself owned by US parent Ignyte Insurance Group.
Growth has been sustained at 30%+ annually since inception, funded through capacity partnerships rather than disclosed external equity rounds. Headcount of 51–100 employees supports operation across multiple product lines; revenue and P&L data are not publicly disclosed. Industry recognition includes a 5-star rating in the Insurance Times MGA Broker Survey 2022, MGAA Awards wins, and a Claims Team of the Year (MGA) finalist position at the 2026 Claims Excellence Awards.
First Underwriting firmographics
Firmographics- Name
- First Underwriting
- Legal name
- First Underwriting Limited
- Website
- https://firstuw.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First Underwriting is a UK specialist Managing General Agent that underwrites niche and hard-to-place insurance lines — specialist motor, real estate, travel bonds, tour operators' liability, professional indemnity and bespoke schemes — exclusively through specialist insurance brokers under a multi-year capacity arrangement with Accredited Insurance Europe.
- Ownership category
- akta.pro rank
First Underwriting industry classification
Industry- Product category
- Specialty Insurance Underwriting
- NAICS
- Insurance Agencies and Brokerages (52421), Insurance Carriers and Related Activities (524)
- SIC
- Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
Keywords
Where First Underwriting is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
First Underwriting business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Insurance Underwriting Premium: First Underwriting generates revenue through underwriting specialist insurance products. They collect insurance premiums from policyholders through their broker network and retain a portion as underwriting profit. The company has a 5-year capacity deal with Accredited Insurance (Europe) Limited to place approximately £1bn of gross written premium into the market.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Quote-based pricing tailored to individual risk profiles |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
First Underwriting product offering
Product offeringCore offering
First Underwriting is a London-based Managing General Agent (MGA) that underwrites and distributes specialist commercial insurance products — including motor fleet, agricultural motor, enthusiast & classic vehicles, motor trade, real estate, travel bonds, tour operators' liability, professional indemnity, leisure insurance, and bespoke schemes — exclusively through specialist insurance brokers. The firm combines the security and capacity of a large organisation with the agility and decision-making speed of a specialist underwriter for niche risks mainstream insurers decline.
Product overview
First Underwriting is a specialist Managing General Agent (MGA) offering an extensive range of specialist insurance products exclusively through broker partners. The product portfolio includes: Motor insurance covering Fleet, Agricultural, Enthusiast & Classic, and Motor Trade (Road Risks, Combined, Specialist, and Motorsport) lines; Real Estate insurance for commercial and residential properties; Travel Bonds (ABTA and CAA); Tour Operators' Liability Insurance; Professional Indemnity Insurance for various professions; Bespoke Insurance Schemes for unusual and complex risks; and Leisure insurance for holiday homes and vehicles. Additionally, the company operates Slipstream Underwriting as a sub-brand focused on motorsport insurance. All products are backed by A-rated capacity through Accredited Insurance Europe and are underpinned by sustainable pricing, experienced underwriters, and first-class claims service.
Differentiator
Problem solved
Functional benefit
Brands
- Slipstream Underwriting: A new motorsport insurance brand launched in January 2023, providing an extensive range of motor, commercial combined and property products attuned to the needs of motorsport participants, teams and businesses.
Quantifiable outcome
- 30%+ annual growth
- +2 more outcomes
Companies that use First Underwriting
Customer profileNamed customers1 record
Segments7 records
Ideal customer profiles1 record
First Underwriting technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
First Underwriting partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- DWFcoreFirst Underwriting partnered with DWF to support claims and 24/7 crisis response service for Travel and Tour Operators Liability products. DWF is a global provider of integrated legal and business services with extensive expertise in handling complex travel-related claims.
- McGill and PartnerscoreWorking in partnership with Accredited and McGill and Partners, the 5-year deal provides capacity for First Underwriting's range of specialty products. McGill and Partners arranged the reinsurance programme supporting AIEL's underwriting.
- AAC (Automotive Automation Ltd)coreFirst Underwriting works with AAC to deliver a fully managed motor claims solution. AAC handles all aspects of customer claims including first notification of loss, repair management and subrogation, ensuring excellent service and high quality repair management.
- Kennedys LawcoreKennedys Law handles Kingsbridge & Professional Indemnity claims for First Underwriting clients. Provides specialist legal expertise for complex professional indemnity claims handling.
- CrawcocoreCrawco handles property claims for First Underwriting. Provides expert property claims management services.
- Classic Insurance Services (CIS)minorStrategic in-group partnership between two companies both part of Kingfisher UK Holdings. CIS clients are offered First Underwriting products specifically designed to meet unique and personalised insurance needs for classic and specialist motor trade.
- Managing General Agents' Association (MGAA)minorFirst Underwriting participates in MGAA events including the MGAA Broker Exchange and has a stand at BIBA Conference alongside the MGAA. Supports the MGA community and industry collaboration.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
First Underwriting competitors and assessment
Company assessmentRegional players
- Aston Lark: UK specialist insurance broker and MGA focused on commercial, motor and property risks; comparable as a UK specialist broker-distributed intermediary though acting primarily on the broker rather than underwriting side.
Broad incumbents
- Markel UK: UK specialty insurer within Markel Group focused on niche commercial and motor trade risks distributed via brokers; comparable product mix and broker-led specialty underwriting, but with a much wider portfolio.
- Hiscox UK: Established UK specialty insurer with substantial broker-distributed business across motor, property and professional indemnity; overlaps with First Underwriting's product categories but at materially greater scale and breadth.
- Beazley: Lloyd's-listed specialist insurer with significant UK specialty and broker-distributed lines including property, casualty and professional indemnity; broader incumbent competing for similar broker-placed risks.
Direct peers
- CFC Underwriting: London-headquartered specialist MGA writing a broad portfolio of niche commercial lines through brokers, with comparable underwriting-agency model and appetite for hard-to-place risks. One of the most directly comparable UK specialty MGAs.
- Rokstone: London-based specialty MGA/MGU focused on hard-to-place commercial risks distributed through brokers; directly comparable in product breadth, broker-only GTM and capacity-provider model.
- Dual Corporate Risks: Specialty MGA operating in the UK and internationally through brokers across motor, property and specialty lines; directly comparable in broker-only distribution and niche segment focus.
- Chaucer Insurance: Specialty insurer/MGA with London presence writing complex commercial risks via brokers; comparable niche, specialist underwriting style and broker-led distribution channel.
- Accelerant Insurance: MGA platform empowering specialty underwriters with capital and operating infrastructure; directly comparable as a broker-distributed specialist MGA group with capacity partnership model.
Others
- B3 Insurance (group affiliate): Sister entity within Kingfisher UK Holdings / Ignyte group, operating in adjacent UK insurance distribution; relevant as an in-group peer sharing capacity, leadership and infrastructure with First Underwriting.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
First Underwriting social profiles
Digital presenceFirst Underwriting compliance and trust
Trust signalCompliance3 records
First Underwriting financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Underwriting leadership team
Management profileNumber of profiles
Profiles16 records
First Underwriting subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Underwriting funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Underwriting M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Underwriting
What does First Underwriting do?
First Underwriting is a London-based Managing General Agent (MGA) that underwrites and distributes specialist commercial insurance products — including motor fleet, agricultural motor, enthusiast & classic vehicles, motor trade, real estate, travel bonds, tour operators' liability, professional indemnity, leisure insurance, and bespoke schemes — exclusively through specialist insurance brokers. The firm combines the security and capacity of a large organisation with the agility and decision-making speed of a specialist underwriter for niche risks mainstream insurers decline.
Is First Underwriting a public or private company?
First Underwriting is a private company. It is classified as corporate owned and is currently operating.
When was First Underwriting founded?
First Underwriting was founded in 2018. It employs 51 to 100 people.
Where is First Underwriting based?
First Underwriting is headquartered in London, United Kingdom, in the Europe region.
How does First Underwriting make money?
One revenue line is on record: insurance Underwriting Premium.
Who are First Underwriting's main competitors?
Aston Lark is listed as a regional player. Broad incumbents are Markel UK, Hiscox UK and Beazley. Direct peers are CFC Underwriting, Rokstone, Dual Corporate Risks, Chaucer Insurance and Accelerant Insurance. B3 Insurance (group affiliate) is listed as an others.
Does First Underwriting have an API?
No public API is recorded for First Underwriting.
What industry is First Underwriting in?
First Underwriting's product category is Specialty Insurance Underwriting. Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services. Its NAICS code is 52421 and its SIC code is 6411.