Broker and insurance technology group Ensurance is confident its new London-based underwriting agency will be the catalyst for success in the European market.

Wholly owned subsidiary Ensurance UK, based in the city’s insurance district, will initially deal direct on a wholesale basis with brokers in the UK and EU.

It will focus first on the construction and engineering sectors, and has secured partnerships with a few global insurers to provide security.

“This is an incredible accomplishment for a newly established operation, to secure such high-quality partners,” Ensurance MD Stefan Hicks said.

“By partnering these exclusive insurers, it will enable Ensurance to expand into global territories previously unavailable.”

The company estimates its European expansion project will cost about £700,000 ($1.16 million).