Arkel, part of the Atec Group, has secured an additional £25m delegated authority binder with AXIS for Landlords’ Let Property.

Currently known for its focus on specialist and non-standard insurance, including residential let and non-standard home, Arkel now has a total of over £50m GWP in available capacity. 

The MGA has doubled in size every year since it launched in 2018, and it expects to grow to £42m GWP by the end of this year, targeting £100m GWP within the next five years.

The new tranche of Lloyd’s capacity secured with AXIS Syndicate 1686 means that Arkel is now a Lloyd’s coverholder, opening up further opportunities for Lloyd’s capacity arrangements on non-standard home and other complementary lines. 

Arkel’s Let Property products are already live on major software houses including SSP and Applied Systems, and it expects to go live with other major distribution partners including other software houses later this year.

Kris Lee, chief underwriting officer at Arkel, said: “We are delighted to announce this new significant tranche of capacity with AXIS. We are committed to providing our broker partners with secure capacity and a fast and efficient service. 

“We have a powerful combination of strong underwriting experience, leading data, actuarial and tech capabilities that make us flight of foot and able to respond to brokers fast and with certainty.”

Mike Worton, senior underwriter, UK property at AXIS, added: “We are pleased to be working with Arkel, which shares our vision for providing elevated specialty solutions for brokers and their clients through their underwriting expertise, application of data and analytics, and powerful proprietary tech and pricing tools.”