The Intermediary Mortgage Lenders Association (IMLA) has announced that Gallagher Re will join the trade body as an associate member.

The reinsurance broking and advisory firm takes the number of IMLA members to 60.

Gallagher Re is part of global insurance brokerage, risk management and consulting services firm Gallagher, headquartered in the US. The firm offers client service capabilities in more than 150 countries through a network of correspondent brokers and consultants, with Gallagher Re delivering mortgage risk solutions for partners and clients around the world.

Managing partner and mortgage indemnity reinsurance at Gallagher Re, Steven Rance, will be the appointed IMLA representative. Rance is known to existing members following his previous presentations on the UK progress under the Deposit Unlock scheme, which Gallagher Re developed in partnership with the Home Builders Federation, Homes for Scotland and close collaboration with the lender community.

“During the development and delivery of Deposit Unlock we worked closely with many IMLA members and are keen to continue this cross-industry collaboration,” he commented.

“As a sustainable solution that is enabling the return of 95% LTV mortgages for new builds at significantly reduced risk to lenders, Deposit Unlock is now fully live, gaining momentum and increasingly established with UK lenders and mortgage advisers.

“That makes this the perfect time for Gallagher Re to formalise its partnership approach to working together in a way that associate membership affords.”

IMLA executive director, Kate Davies, added: “We are delighted to welcome Gallagher Re to the team as associate members. We were very pleased to give them an opportunity to present to members on their innovative Deposit Unlock scheme last year – and we look forward to continuing to work with them.

“It’s always good to find fresh new ways to help our members expand the breadth and depth of their expertise, and that we can bring to our efforts in representing mortgage intermediaries and lenders across the UK.”

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