Pinion Insurance, a newly formed Bermudian-incorporated speciality insurance platform, will offer insurance capacity for managing general agents across the United States, British and European markets through a fully integrated innovative proprietary technology platform.

Founded by an experienced management team comprising Neil McConachie, Philip Vandoninck and Laura Baird, Pinion has secured a commitment of up to $180 million from global asset management firm Barings.

It is seeking multijurisdictional licences in the US, Britain and the European Union and a rating from AM Best.

For the US, nationwide E&S licences will be obtained through the acquisition of an identified shell company, subject to parent state regulatory approval.

The company aims for binding business in the US in Q2 2026, subject to regulatory approval. Pinion plans to be ready to underwrite in the EU and Britain in 2027, subject to regulatory approval.

“Pinion will offer MGAs secure, long-term, quality capacity while providing meaningful visibility into underwriting performance and exposure using Pinion’s proprietary technology platform,” said Mr McConachie, cofounder and group chief executive of Pinion.

“The platform will additionally be accessed by reinsurers to obtain a portfolio of high-quality risks, while also obtaining real-time visibility into portfolio performance.

“Pinion will be a bridge between high-performing MGAs and capital providers who demand transparency, efficiency and long-term value. Our platform is designed to unlock the full potential of MGAs in a capital-light, tech-enabled world.”

“We are thrilled to back Pinion’s experienced management team in launching an insurance platform that we believe is positioned to accelerate growth for MGAs through proprietary technology and to drive further innovation in the insurance sector,” said Michael Searles, head of North America for Barings Capital Solutions.

“Pinion enters the market at a time of accelerating growth and maturity in the MGA sector,” said Mr Vandoninck, cofounder and group chief underwriting officer.

“MGAs continue to gain traction by delivering differentiated distribution, underwriting expertise and strong local market knowledge — qualities increasingly sought by reinsurers and traditional carriers alike. Pinion offers an alternative to legacy hybrid carriers that are constrained by outdated systems and high operating costs.”

Pinion is a newly formed speciality insurance carrier, built on the foundations of Pinion Risk Consulting, an established data and analytics specialist in the MGA sector founded and led by Ms Baird.

She has partnered with Mr McConachie and Mr Vandoninck to launch the new carrier, leveraging proven proprietary technology developed by PRC and already adopted across the MGA market.

“Our technology is designed to give MGAs greater transparency, more efficient operations and access to industry-leading analytics to further enhance their underwriting strategy,” said Ms Baird, cofounder and chief technology officer.

“By combining advanced data science, modern engineering and deep underwriting experience, we’ve built a platform that supports MGAs and materially reduces the operational burden of the traditional capacity relationship.”

Pinion is incorporated in Bermuda and is headquartered in London.

The London-headquartered company’s formal commencement of business is subject to regulatory approvals and confirmation of an AM Best rating.