Former SiriusPoint CEO Dan Malloy is to take charge at United Risk, the newly consolidated enterprise unveiled by Applied Underwriters.

Built up over the past three years within a single operating platform, the company said, United Risk brings together the entirety of Applied Underwriters’ multibillion-dollar MGA and MGU businesses into a single cohesive brand.

Mr Malloy has been named chief executive of the company.

New York-headquartered United Risk has also hired Chris Day, formerly of Tokio Marine HCC, Steve McGill, formerly of Validus, and Joshua Betz, formerly of Argo.

Jamie Sahara, president and founder of Applied Underwriters, said the company has quietly become a dominant presence in the MGA/MGU development space.

He said: “The establishment of United Risk itself underlines the position we now enjoy as the fast moving ‘go-to’ for development and M&A in underwriting and distribution, especially given the extraordinary mapping we offer for proven entrepreneurs seeking a pathway for realising growth and value.”

Mr Sahara added: “I’ve known Dan for over 20 years, and under Dan’s trusted leadership we’re going to gather even more momentum.

“But we’re sure to keep management at United Risk lean and focused. There isn’t going to be a lot of corporate bureaucracy — United Risk is about building MGA businesses that are efficient, strong and valuable.”

Mr Malloy said: “United Risk is unique in that it has all the ingredients for success: an inspiring ethos, the capital and operational resources, the camaraderie of top-notch talent and goodwill that runs deep throughout the industry. The growth potential here is, frankly, as impressive as it is exciting.”