Prestige Underwriting Celebrates 10 Years of Octane London Market
Prestige Underwriting is marking the ten year anniversary of Octane London Market (OLM), its specialist London Market motor underwriting arm.
Founded in 2014 after a conversation between Dave Murray and Simon Baker (then AXA’s Head of Commercial Underwriting), OLM launched its first policies in 2015 with underwriting capacity provided by AXA while operating as an appointed representative of Prestige Underwriting. Over the past decade, OLM has grown from a £5 million AXA-backed start-up to a £26 million capacity operation as a wholly owned subsidiary of Prestige Underwriting, with AXA remaining a core capacity partner throughout.
OLM was created to provide the London motor wholesale market with solutions for non-standard motor risks that are difficult to place in conventional markets. The concept took shape in 2014, and by early 2015 OLM had incepted its first policies leveraging AXA’s support.
Initially, OLM traded under Prestige Underwriting’s regulatory umbrella, allowing the new venture to establish itself quickly in the market. As the business grew, it was integrated as a wholly owned part of Prestige Underwriting, cementing group support and infrastructure while continuing to write on behalf of AXA Insurance UK plc as a key capacity provider. This secure backing enabled OLM to expand its underwriting capacity from £5 million at inception to £26 million today, reflecting a consistent trajectory of growth and market demand.
A leadership transition in 2022 saw longtime Head of OLM, David Archdale, hand over the reins to Santina Thomas. An industry veteran with specialist motor underwriting experience at AIG, Santina Thomas brought extensive expertise to the role.
Under her leadership, OLM’s highly experienced underwriting team has remained committed to technical, bespoke underwriting practices and exceptional service for brokers. The team’s deep knowledge of niche motor risks – from high-performance vehicles to complex driver histories – underpins OLM’s ability to craft tailored cover where standard insurers cannot, and this broker-centric approach continues to drive its success.
Santina Thomas, Head of Octane London Market at Prestige Underwriting, said:
“I’m extremely proud of how far Octane London Market has come over the past decade - from a £5 million start-up to a key player in the London Market. We have achieved this by staying true to technical underwriting excellence and putting our broker relationships first, and those principles will continue to guide us into the next decade.”
This ten-year milestone comes amid a rising demand for non-standard motor cover in the UK, as brokers seek solutions for clients outside the mainstream criteria. OLM has been at the forefront of meeting this demand. With mainstream insurers tightening their appetite for unconventional or higher-risk motor business, brokers increasingly turn to specialist providers like OLM to place these complex risks.
OLM’s strong market position has been built on its agility and expertise in underwriting non-standard motor policies, coupled with a steadfast focus on broker partnerships. By combining a technically skilled team with a purposeful focus on broker needs, Octane London Market has solidified its reputation as a go-to market for non-standard motor insurance and enters its next decade on a confident footing, continuing to deliver solutions for hard-to-place risks across the UK.
