Bridgehaven Europe Holdings has entered into an agreement to acquire Dublin-based SureStone Insurance DAC, marking a significant milestone in the hybrid insurer’s expansion strategy. The acquisition represents Bridgehaven’s first regulated underwriting presence within the European Union.
As part of the deal, SureStone will be transitioned into Bridgehaven’s inaugural EU subsidiary, allowing the firm to underwrite European risks via the managing general agent (MGA) market. Currently, Bridgehaven manages over £350 million in binder premium through its MGA partnerships and facility arrangements in the UK.
This move positions Bridgehaven to capitalise on the EU MGA market, which is forecast to reach £50 billion in premium volume over the next three to five years. The market’s rapid growth reflects increasing demand for pan-European access following Brexit, driven by digital innovation, niche underwriting opportunities, and heightened interest from reinsurers in delegated authority models with robust oversight.
SureStone, which has been in run-off since the end of 2019, previously specialised in property and casualty lines. Bridgehaven has committed to honouring all existing financial and regulatory responsibilities to SureStone’s policyholders, claimants, and business partners.
Founded in mid-2023 with the backing of private equity firm Flexpoint Ford, Bridgehaven operates as a hybrid fronting platform, bridging the gap between MGAs and the reinsurance market. By combining licensed underwriting with retained risk, the company aims to deliver long-term programme stability.
The acquisition of SureStone underscores a broader shift within the MGA ecosystem, where hybrid fronting insurers are increasingly leveraged for cross-border growth. Industry analysts expect fronting insurers to play a growing role in European programme business, with the potential to capture up to 10% of the MGA segment in the coming years.
