MX Underwriting Europe
MX Underwriting Europe is a Dublin-based Managing General Agent (MGA) that underwrites difficult and niche commercial insurance risks, including property development, liability, motor fleet, and motorsport, through broker partners across Ireland, UK, and Europe.
- Company typePrivate
- Founded2017
- HeadquartersDublin, Ireland
- Headcount11–50
- GTM typeB2B
- OfferingServices
What MX Underwriting Europe does
MX Underwriting Europe is a Managing General Agent (MGA) headquartered in Dublin, Ireland, specializing in underwriting difficult-to-place and niche commercial insurance risks on behalf of A-rated and AA-rated capacity providers. Operating as part of Specialist Risk Group's (SRG) underwriting business unit MX, the company provides specialist underwriting solutions across Environmental, Financial, Motor, Property, and Liability risks for broker partners and their clients in Ireland, the UK, and continental Europe. Its core products are organized into three teams: MX Risk Solutions (Public Law/Judicial Review, Title to Shares, and Ownership and Use products for property developers, funders, and renewable energy projects), MX Commercial (Liability, Property Combined, and Motor Fleet insurance for Irish businesses, particularly hospitality, leisure, entertainment, and retail), and MX Motorsport (Property, Liability, and on-track accident cover for racing teams, circuits, and event organisers).
The company operates an exclusively broker-distributed GTM model with tri-partite relationships, face-to-face underwriting assessments, and site visits. It backs risks with A-rated capacity from Accredited Insurance (Europe) Limited (AIEL) and Aioi Nissay Dowa Insurance Company of Europe SE (AND-E), and AA-rated capacity from ERGO. As an MGA, MX Underwriting Europe earns commission on premiums bound under delegated authority from its insurer partners. Its technology stack includes MXC Online, a digital portal enabling brokers to obtain quick quote turnarounds across multiple commercial lines and bind cover directly. The company is regulated by the Central Bank of Ireland and the Financial Conduct Authority (FRN 989072), and is part of SRG's broader portfolio of acquired specialist insurance businesses including GB Underwriting, Trilogy Underwriting, TriStar Special Risks, NW Re, and Capulus Ltd.
MX Underwriting Europe was formerly known as LIME and Blackrock Insurance Solutions and rebranded to its current name. It became part of SRG in March 2021 through the acquisition of CLS RS, which had GWP exceeding £30M in 2020. Since 2024, the MX underwriting business unit has executed four acquisitions, secured a long-term capacity agreement with AIEL, expanded geographic reach into Benelux territories, and scaled to over 100 colleagues placing combined GWP exceeding £220M. The company serves a range of mid-market and specialist clients including multi-site gyms, furniture manufacturers, property developers, renewable energy projects, and motorsport operators.
MX Underwriting Europe firmographics
Firmographics- Name
- MX Underwriting Europe
- Legal name
- Specialist Risk Europe Limited
- Website
- https://mxunderwriting.eu
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MX Underwriting Europe is a Dublin-based Managing General Agent (MGA) that underwrites difficult and niche commercial insurance risks, including property development, liability, motor fleet, and motorsport, through broker partners across Ireland, UK, and Europe.
- Ownership category
- akta.pro rank
MX Underwriting Europe industry classification
Industry- Product category
- Specialty Insurance Underwriting
- NAICS
- Insurance Agencies and Brokerages (52421), Other Insurance Related Activities (52429)
- SIC
- Title Insurance (6361), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Title Insurance & Underwriting (BPAJAOAA)
- akta.pro secondary industries
- Real Estate Due Diligence & Underwriting Advisory (Financial/Operational) (BPAJANAG), Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD)
Keywords
Where MX Underwriting Europe is headquartered
LocationHeadquarters
- HQ city
- Dublin
- HQ country
- Ireland
- HQ region
- Europe
Offices3 records
Markets served
MX Underwriting Europe business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Managing General Agent (MGA) Premium Revenue: As an MGA, MX Underwriting Europe provides services and enters into insurance contracts on behalf of regulated Insurers. They earn commission on premiums placed through their delegated authority from insurer capacity providers. The company places combined total of over £220M GWP across the MX group.
- Permit Challenge / Risk Solutions Premium: Specialist insurance products for property development risks including permit challenges, title issues, and environmental liabilities. Products improve asset bankability and enable developers to redeploy capital to further projects.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Annual | Liability Insurance - Minimum Premium |
| Unit Pricing | Annual | Commercial Combined - Minimum Premium |
| Transaction based/ take rate | Multi-year contract | Title to Shares - Rate-based Pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
MX Underwriting Europe product offering
Product offeringCore offering
MX Underwriting Europe is a Managing General Agent that provides specialist underwriting solutions for challenging and niche insurance risks exclusively through broker partners. Its three main product lines are MX Risk Solutions (Title to Shares, Ownership and Use, and Public Law/Judicial Review financial indemnity cover for property developers and renewable energy projects), MX Commercial (Liability, Property Combined, and Motor Fleet cover for hospitality, leisure, retail and other commercial sectors), and MX Motorsport (cover for racing teams, circuits and event organisers). Products are backed by A-rated and AA-rated insurer capacity and delivered via the MXC Online digital portal.
Product overview
MX Underwriting Europe is a Managing General Agent (MGA) providing specialist underwriting solutions for challenging and specialist insurance risks. The company operates through three main product lines: MX Risk Solutions (covering Ownership and Use, Title to Shares, and Public Law/Judicial Review for property development and transactions), MX Commercial (covering Liability, Motor Fleet, and Commercial Combined insurance), and MX Motorsport. The company also offers MXC Online, a digital quoting platform. Products are backed by A-rated and AA-rated insurer capacity and delivered through broker partners across Ireland, UK, and Europe.
Differentiator
Problem solved
Functional benefit
Products and services
- MX Risk Solutions
Quantifiable outcome
- Up to 50% of permits for wind energy projects in Europe are challenged, resulting in delays of up to three years
- +3 more outcomes
Companies that use MX Underwriting Europe
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles5 records
MX Underwriting Europe technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
MX Underwriting Europe partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Accredited Insurance (Europe) Limited (AIEL)coreNew long-term capacity agreement providing A-rated (AM Best) capacity across UK and Ireland. AIEL is a leading programme manager supported by a panel of A-rated reinsurers. The partnership provides MX with significant improvements in capacity, enabling higher limits and broader trade appetite, with enhanced flexibility for new products and acquisitions.
- Aioi Nissay Dowa Insurance Company of Europe SE (AND-E)coreA+ rated motor insurer providing capacity for MX Underwriting Europe's Motor Fleet solutions in Ireland. AND-E is part of MS&AD Group, Japan's largest non-life insurer. Specialises in automotive protection with presence in UK, Germany, Italy, Spain, France, Belgium and 30 other countries.
- ERGO (S&P Global Ratings)coreAA-Rated insurance capacity provider referenced for Title to Shares and Public Law products. Rating information sourced from ERGO and S&P Global Ratings (correct as of June 2023).
- FieldfisherminorEuropean law firm partnered with MX Underwriting and WindEurope for the 'Barriers to Wind' market study investigating permit risks on wind farm projects in France, Germany and Spain.
- WindEuropeminorWind energy industry association partnered with MX Underwriting and Fieldfisher for the 'Barriers to Wind' market study. MX is an insurance provider participant in the study examining permit challenge impacts on European wind energy projects.
- LERIAminorDistribution partner for MX Underwriting in France, specialising in legal risk insurance for renewable energy projects. LERIA assists clients with quality insurance solutions to enable development and financing of projects.
- Davies GroupminorThird-party claims handler for MX Underwriting Europe Motor Fleet claims. Handles fleet claims submissions at [email protected].
- SedgwickminorThird-party claims handler for MX Underwriting Europe Liability and Commercial Combined claims in Ireland. Handles claims at [email protected] and [email protected].
- Trilogy UnderwritingcoreLondon Market underwriting business acquired by MX as part of Specialist Risk Group's growth strategy. Serves the needs of London Market brokers and complements MX's Property and Casualty offerings.
- TriStar Special RiskscoreSpecialist terrorism and political violence business acquired by MX. Now offered across MX alongside Property and Casualty new business and renewals.
- NW RecoreSpecialist reinsurance firm acquired by MX. Known for disciplined approach to UK Property reinsurance, enhancing MX's underwriting specialisms.
- Capulus LtdcoreSpecialist motor insurance business providing solutions for haulage, couriers and self-drive hire. Acquired and integrated into MX Motor Fleet offering.
- The Underwriting Exchange (TUE)minorIrish broker partner through Brian Pilkington, Broker Development Manager at TUE. Engaged with MX Underwriting Europe to promote extended capabilities and Medical Malpractice offering.
Scale indicators7 records
Recent moves7 records
Expansion highlights5 records
MX Underwriting Europe competitors and assessment
Company assessmentDirect peers
- CFC Underwriting: London-based specialist MGA underwriting emerging and complex risks across multiple lines. Operates a similar broker-distributed, delegated-authority model targeting difficult and niche risks, with comparable sector and geographic footprint.
- Apollo Syndicate: Lloyd's of London specialty syndicate providing expert underwriting across property, casualty, and specialty lines through broker distribution. Comparable in targeting difficult, niche risks with specialist capacity.
- Ascot Underwriting: Specialty insurance group operating at Lloyd's of London, providing delegated capacity and underwriting expertise across multiple specialty lines. Comparable in offering niche, broker-distributed solutions for difficult risks.
- Qdos: Specialty MGA focused on entertainment, events, and motorsport insurance. Direct overlap with MX Motorsport and MX Commercial's leisure and entertainment liability offerings, with similar broker-distributed model.
- Nexus Underwriting: UK-focused specialty MGA operating under delegated authority from A-rated capacity providers, covering commercial liability, property, and motor. Closely comparable broker-only distribution model and specialist underwriting positioning.
Broad incumbents
- Hiscox: Specialty insurer with significant London Market and European operations, offering liability and specialty lines through broker distribution. Competes in similar territory with much larger scale and brand recognition.
- Beazley: London-listed specialty insurer with significant Lloyd's presence across liability, property, and specialty lines. Operates at much larger scale but competes for the same broker-distributed specialty risks in similar verticals.
- Markel International: Specialty insurer with strong UK and European presence offering liability, property, and specialty lines to commercial clients. Provides comparable specialist underwriting expertise and A-rated capacity in similar niches.
- Munich Re Specialty: Specialty arm of one of the world's largest reinsurers, providing capacity and underwriting expertise across specialty lines globally. Functions as both a competitor and capacity provider in the European specialty insurance market.
Emerging players
- Accelerant: Specialty insurance platform enabling MGA creation through data analytics and A-rated capacity partnerships. An emerging player in the specialty MGA ecosystem that overlaps with MX's data-driven, niche-focused underwriting approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MX Underwriting Europe social profiles
Digital presenceMX Underwriting Europe compliance and trust
Trust signalCompliance2 records
MX Underwriting Europe financial estimates
Financial estimateRevenue estimate
Valuation estimate
MX Underwriting Europe leadership team
Management profileNumber of profiles
Profiles7 records
MX Underwriting Europe funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MX Underwriting Europe 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 MX Underwriting Europe
What does MX Underwriting Europe do?
MX Underwriting Europe is a Managing General Agent that provides specialist underwriting solutions for challenging and niche insurance risks exclusively through broker partners. Its three main product lines are MX Risk Solutions (Title to Shares, Ownership and Use, and Public Law/Judicial Review financial indemnity cover for property developers and renewable energy projects), MX Commercial (Liability, Property Combined, and Motor Fleet cover for hospitality, leisure, retail and other commercial sectors), and MX Motorsport (cover for racing teams, circuits and event organisers). Products are backed by A-rated and AA-rated insurer capacity and delivered via the MXC Online digital portal.
Is MX Underwriting Europe a public or private company?
MX Underwriting Europe is a private company. It is classified as corporate owned and is currently operating.
When was MX Underwriting Europe founded?
MX Underwriting Europe was founded in 2017. It employs 11 to 50 people.
Where is MX Underwriting Europe based?
MX Underwriting Europe is headquartered in Dublin, Ireland, in the Europe region.
How does MX Underwriting Europe make money?
Two revenue lines are on record. Managing General Agent (MGA) Premium Revenue is the primary driver. The others are permit Challenge / Risk Solutions Premium.
Who are MX Underwriting Europe's main competitors?
Direct peers on record are CFC Underwriting, Apollo Syndicate, Ascot Underwriting, Qdos and Nexus Underwriting. Broad incumbents are Hiscox, Beazley, Markel International and Munich Re Specialty. Accelerant is listed as an emerging player.
Does MX Underwriting Europe have an API?
No public API is recorded for MX Underwriting Europe.
What industry is MX Underwriting Europe in?
MX Underwriting Europe's product category is Specialty Insurance Underwriting. Its primary akta.pro industry code is BPAJAOAA, Title Insurance & Underwriting, with a secondary code of BPAJANAG, Real Estate Due Diligence & Underwriting Advisory (Financial/Operational). Its NAICS code is 52421 and its SIC code is 6361.