Tysers invests in new MGA Helix
London-based wholesale broker Tysers has announced a minority investment in Bermudian-based Helix Underwriting Partners Ltd.
Helix was incorporated in December 2018 as the first multi-line, independent managing general agent in Bermuda, Tysers said.
Richard Tomkins is the managing director of Tysers (Bermuda) Ltd, which set up on-island in 2019 as an affiliate of the UK-based broker.
He said: “As we enter the 200th year of Tysers existence, we are delighted to be partnering with Helix Underwriting Partners. In the latter half of 2019 we observed and had dialogue with Helix during its formation and realised they would be a great fit for our stated independent strategy.
“The founders of Helix have many years of experience within the industry, across multiple disciplines and have all the necessary skills to make the business a success.”
Claude Lefebvre, president of Helix, said: “During our formation process, we reviewed capital propositions from several interested parties. Tysers emerged as an optimal strategic partner for Helix; its goal to be a leading independent brokerage and service firm aligns well with the profile of our business.”
He added: “Helix has collaborated closely with the Tysers management team throughout this process. We appreciate this strategic investment from Tysers and the additional access to capital as we fully launch Helix with our business partners.”
Tysers, which this year marks its 200th year in business, employs more than 500 people and handles upwards of $2 billion in annual premiums working with leading re/insurance markets worldwide to deliver risk solutions to a global client base.