Euclid Financial and Professional Risks Europe GmbH will establish its operations in Germany through a local presence, supported by IHK accreditation. This accreditation, granted by the relevant Chamber of Commerce, authorizes the company to act as an insurance agent and enables underwriters to operate in Germany under delegated authority.

This move supports the firm’s continued growth and expansion in capacity after the recent successful launch as a new financial lines focused MGA. Expanding into Europe is a particularly exciting prospect as Europe is targeted to represent around 15-20% of the group’s overall GWP and is therefore material to the firm’s objectives and aspirations.

Commenting on this news, John Dexter, Managing Principal of Euclid Financial and Professional Risks said: “Europe is an incredibly important trading market for us. Having a fully authorised entity gives our underwriters the ability to transact business with confidence and is an important step in fulfilling our ambition to be seen as the ‘go to’ international financial lines specialist underwriting team in the London market. Our underwriting team are highly experienced and have been writing business in Europe throughout their whole careers.”

The newly formed unit will also be able to operate from the UK via a UK branch (Euclid Financial and Professional Risks Europe (UK Branch)) which is an Appointed Representative of Pro MGA Solutions Ltd.