Adam Fox, CEO of Stonybrook International, took the stage today at The Insurer’s European MGA Summit 2026 in Paris for a panel discussion on a question the whole sector is asking: will alternative capital shape the next phase of MGA growth?
Joined by Gavin Woods (Carey Olsen) and Paul Rayner (Octave Specialty Group), with Adrian Leonard moderating, the discussion covered how sidecars, ILS funds and new risk transfer structures are reshaping capacity for MGAs, what Europe can take from the US experience, and what has to change for alternative capital to become a meaningful source of underwriting capacity.
“Why talk about this at an MGA event?” Adam Fox commented:
MGAs are underwriting without capital, and alternative capital is capital without the underwriting capabilities. They’re natural partners, but they meet through intermediaries like Stonybrook Capital via fronting carriers, Lloyd’s, and sidecars. US mutuals are an example of new non-trade sources that Stonybrook Capital are Deeply connected with.”
Thank you to The Insurer for the invitation, and to our fellow speakers for a great conversation.
About Stonybrook Capital & Risk Management
Stonybrook is a global, specialist investment banking and reinsurance broking firm focused exclusively on the insurance industry. Our independent advice is grounded in deep industry knowledge across long-term trends, strategy, products and capital structures. We advise insurers, reinsurers, distributors, asset managers and institutional investors, offering insights shaped by extensive experience, industry relationships and a track record of successful outcomes.
Stonybrook, approaching its 15th anniversary, recently moved to spectacular Class A office space on Park Avenue at 41st Street. Stonybrook has a major effort focused on Lloyd’s investments and also created the Stonybrook Cabbot Fund, a vehicle that allows Americans to invest personally in the Lloyd’s of London marketplace. Stonybrook is also the #1 InsurTech placement agent in the United States and Europe. The firm also has professionals on the ground in London and Bermuda.
