Binders
-
Sources believe Lloyd’s may be veering away from central DA systems.
-
The binder has a line size of $2mn and will enable the MGA to write international property risks in a number of international territories.
-
Lloyd’s has asked all syndicates to outline their delegated authority (DA) portfolio at a whole account level for syndicate business discussions (SBDs), as the 2024 business plan cycle kicks off.
-
Reinsurance renewals were more orderly than feared and business plan resubmissions have a positive weighting.
-
Argenta will be a cornerstone capacity provider to new MGA Casper, which will write $100mn in year one.
-
It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.
-
The executive joined the carrier last year as underwriting manager for US delegated authority.
-
LIMOSS and Vitesse will deliver the claims service, which is part of the Blueprint Two reforms, and are offering discounts to syndicates signing up in H1 2023.
-
Derrick Potton and Alex Fell will work on business development and management liability respectively.
-
The move follows Jess Pryor’s promotion to executive chairman of Brit’s US business.
-
Rising Edge will provide D&O cover for companies ranging from US-listed entities to private entities.
-
However, 2021 could be a turning point for the profitability of delegated authority books, according to the broker.
-
Huge uncertainty reigns over the ultimate size of the loss, the full extent of which will take months to play out.
-
Axa will be the MGA’s main capacity provider from February for construction and engineering products.
-
Arch Managing Agency was launched last year to bring together Arch and Barbican’s Lloyd’s operations.
-
The agreement will initially focus on political risk and trade credit, energy and property business, with up to $25mn of capacity per risk.
-
The investor’s largest portfolio company Nexus plans further acquisitions in 2021.
-
The InsurTech could be merged into Reinvent Technology Partners, as Metromile prepares to go public in a similar transaction, Bloomberg reports.
-
The WR Berkley subsidiary was founded in 2009 and writes upstream energy, marine and energy liability.
-
The senior executive previously oversaw Lloyd’s Brexit planning and its China platform.
-
Bryte has also granted an underwriting binder for its entire corporate property book to Sapphire Risk Transfer.
-
The former Novae CEO calls the delegated authority platform planned under Blueprint Two the “holy grail” for MGAs.
-
Group CEO David Howden said the A-Plan acquisition brings further retail M&A opportunities.
-
The intermediary recorded revenue of £777mn, with 6% Ebitda growth taking earnings to £223mn.
-
The London-based investor says its 20% stake in the Australian MGA is now worth $10.5mn.
-
William Alderton becomes head of the new worldwide unit.
-
The Marsh JLT-owned business specialises in cover for floating power and desalination operations.
-
Pressure is growing from Lloyd’s underwriters on A&H coverholders, which often attract high commissions.
-
The capital supports the MGA’s excess retro portfolio.
-
This publication looks at 10 issues that will shape the industry in the year ahead, from rate sustainability to start-up progress to the post-Covid recovery.
-
The move follows the recruitment of former Novae CEO Matthew Fosh.
-
AmWins also highlighted the continued availability of “cheap” excess capacity from London cyber MGAs.
-
The executive was an EVP at the Innovisk-hosted MGA, which will enter run-off for 2021.
-
The executive will work as a business development manager, raising awareness of the need for coverage.
-
A “change of control” clause also gives hosted MGAs the opportunity to find new platforms if they wish.
-
CEO Danny Maleary also highlights ambitions for his firm to pioneer a packaged incubation/risk-bearing platform approach for MGAs.
-
The new entity will begin accepting risks on 1 November.
-
A recent Clyde & Co survey shows carriers are more bearish than MGAs on capital provision, and their demands are changing.
-
The yacht operation is led by experienced underwriter Paul Miller and both the team and book of business will move across.
-
The division brings together carriers and MGAs, while providing capital advisory, analysis and modelling support.
-
The venture is led by Guillermo Eslava, a former Swiss Re and Brit underwriter who briefly joined Argo in 2019 as head of LatAm casualty.
-
The listed investor aims high for the growing MGA despite Covid-19 challenges.
-
The 50:50 joint venture will sell automotive and mobility insurance products, starting in France next year.
-
The Lloyd’s coverholder writes a variety of professional liability business.
-
The executive was previously active underwriter for Everest Syndicate 2786.
-
The Hyperion CEO says backing from three institutions plus employee ownership creates “a new financial model”.
-
Arch Underwriting at Lloyd’s and Barbican Managing Agency have been brought together.
-
The executive will manage the MGA’s new all-risks account, while former Chubb loss adjuster David Adcock becomes aviation claims head.
-
The creation of the vehicle reflects the hedge fund reinsurer's respositioning as a specialty carrier.
-
The former Verto CEO is fundraising to begin writing as an MGA in 2021.
-
The partnership will provide cover for clinical trials to university life sciences and medical departments.
-
The expansion comes in anticipation of uptick in Asian M&A activity.
-
Delegated authority brokers are braced for the 1 January property binders renewal.
-
The MGA’s underwriting firepower rises by 15%.
-
The executive joins as head of offshore renewable energy following the MGA’s takeover by Tokio Marine HCC.
-
The construction, leisure and commercial sector MGA will join the group’s Geo Specialty business.
-
AGCS is one of four capacity suppliers alongside Swiss Re Corporate Solutions, Aspen and Scor.
-
Alcor Group will operate out of Bermuda and London, with initial capacity of $10mn per programme.
-
Move comes amid double-digit rate hardening in the US commercial auto market.
-
The Accredited program partner has plans to expand into new lines of business.
-
Beazley-backed vehicle hires Safeonline’s David Dickson, Protean Risk’s Luke Chesworth and Culture Trip’s Anthony Anderson.
-
Sources told this publication that the carrier could be mulling an open market entry.
-
The program administrator expanded into the business line at the beginning of the year.
-
Covid-19 has accelerated dynamics in the MGA space, and now a tough 1 January renewal looms.
-
Will Curtis will lead the new unit as property risk partner, as the MGA separately increases its energy capacity.
-
The MGA is offering limits for between $1mn and $100mn of cover, with the intention of serving both the SME and large corporate market.
-
The MGA platform has acquired the renewal rights for a book of cargo, hull and liability policies.
-
The carrier began providing capacity to the MGA’s construction business through a consortium in 2014.
-
The AJG-owned MGA currently writes £600mn of business and is looking to expand into new niche lines.
-
The MGA had established the PCC as a way to align underwriting interests with its paper providers.
-
Wayne Murphy joins from Trust Re to lead the new division.
-
Mike Keating will start on 8 September and replaces Peter Staddon, who retires in August.
-
The carrier’s decision to withdraw comes just over a year after the partnership was announced.
-
Tim Smyth, former CEO of Primary Group portfolio company RCHL, takes the helm of the MGA.
-
The marine cyber MGA and risk manager was launched last year by ex-Standard Syndicate 1884 active underwriter Robert Dorey.
-
In the post-Covid market, it looks likely that MGAs with scale, expertise and access to capital will win.
-
The listed investor’s shares rise almost 17 percent in early trading.
-
The pandemic means the MGA will hit the £500mn GWP trigger for a review faster than anticipated.
-
She joined the broker after 16 years at Zurich, where she was senior vice president and regional sales director.
-
The raise was led by Alpha Intelligence Capital, and was its first major InsurTech investment.
-
Lewis joined Aon from TMK in September to set up the managing general agency.
-
The target writes premium of about $12mn.
-
The Carbon and Brit syndicate approvals are big test cases in two major Future at Lloyd’s initiatives.
-
The launch would mark the first MGA entry into Lloyd’s via the new framework.
-
She is set to lead the company’s US growth strategy as it expands into the admitted lines cyber market.
-
Tracy Wade reports to programs senior vice president Tim Chesson.
-
The underwriter’s four remaining units will become part of the expansive US MGA platform, in K2’s first non-US acquisition.
-
The transaction will be part-financed through a recently announced debt facility.
-
The partnership will initially offer traditional crop insurance products and then expand.
-
A memo seen by this publication says the Dubai-based MGA plans to relaunch its energy operation.
-
The expansive MGA platform bolsters its senior team with the hire of Mark Smith from the Marsh-owned business.
-
James Dover takes the Adeptive CEO role, with Jeff Bright CUO and Chilton non-executive partner.
-
The transaction is Brown & Brown’s eighth of the year.
-
Brian Hanuschak was previously president of the MGU’s North America business.
-
Munich Re's move to pull back capacity to Hippo comes as reinsurers are looking more cautiously at InsurTechs.
-
The deal comes as renewable energy rates continue to harden.
-
The broker is seeing an increase in demand for coverholder and binder services.
-
The selling shareholder is Bermuda’s Primary Group.
-
The division is led by Stacy Paquet, with capacity provided by Professional Solutions Insurance.
-
John Keen leads the project to revive a previous framework for hosting captives at Lloyd’s.
-
The managing director has been in post since 2013 and overseen a growth in membership.
-
Pioneer's troubles will have made it even tougher for the harder-pressed MGAs to prove their worth
-
The in-principle transaction will see the US MGA take on Pioneer’s four remaining underwriting teams.
-
Insider London panellists said access to capital was a draw but SIAB performance measures were dissuasive.
-
The program includes coverage for trailer parks, which house about 20 million Americans.
-
The cyber and emerging risks specialist makes its second acquisition in six months.
-
This publication looks at the 10 most prevalent industry trends for the year ahead.
-
Raoul Carlos will lead the specialty “centre of excellence”, with the MGA platform also creating two other dedicated hubs.
-
The coverholder is the first multi-line, independent MGA to be incorporated in Bermuda.
-
Confirmed lines of business for 2020 have capacity of more than £150mn.
-
The Japanese-owned carrier teams up with Hiscox to provide capacity to former chief equine underwriter David Ashby.
-
The executive, who joined the firm in 2016, is looking for opportunities in the dedicated MGA and underwriting sector.
-
The Bermuda-based start-up run by Lefebvre, Lucking and Weston receives regulatory approval.
-
The fundraising brings its total backing to around $45.8mn, according to Crunchbase.
-
LMA and Lloyd’s say the exercise will begin around March or April this year.
-
Former Generali UK manager and head of financial lines hired.
-
Newbridge founders Kirby and Buchanan are to move with immediate effect.
-
The rebrand comes as the MGA enters 2020 with an increased line of £100mn.
-
Group underwriting director Graeme Rayner, CFO David Foster and COO Simon Gaffney are all to leave the firm.
-
Matthew Edgette will take a ‘leading role’ in Concord’s tax practice Ryan Specialty.
-
Active underwriter Jill Frances says the MGU will leverage Lloyd’s licensing for international growth.
-
The MGA will initially write mid-market cyber and professional liability business.
-
In an interview with sister publication Insider Quarterly, CEO David Walsh said growth would be achieved organically rather than via M&A.
-
It’s the countdown to Christmas and for the many in the (re)insurance market, that means the focus is on the January renewals.
-
The non-executive appointment comes after the former Zurich EMEA chief secured a board role at Aviva.
-
The French MGA adds credit and surety, cyber, space and A&H to its remit with the deal.
-
MGA appoints founder of International Space Brokers.
-
Andrew McMellin says Pioneer has commitments for 70 percent of the capital for its £200mn-premium business plan.
-
The new political risk product focuses on foreign direct investors in higher risk markets.
-
Walmart is reported to have sustained about $500mn in damage from the riots.
-
The support from Munich Re, Markel, Canopius and Peak Re comes amid run-off preparations for sister entity Syndicate 1980.
-
Ten days ago, I said that Pioneer CEO Andrew McMellin would need to pull a Houdini act to find the capital to keep Syndicate 1980 going.
-
The PE-backed company draws its top team from Hemispheric Re.
-
The MGA’s aviation team now comprises 15 underwriters.
-
Gary Kitchen joined Worldwide Facilities as part of its RIC takeover in 2018.
-
The company will also provide consultancy and analytics services.
-
Capacity will be led by Swiss Re’s US operation, which underwrites 51 percent of the quota share agreement.
-
Since we broke the news in August that Liberty was set to pull all of its capacity from Pioneer’s Lloyd’s syndicate, there have been question marks around what the MGA-cum-syndicate would look like in 2020 – and even over whether it would be able to trade forward.
-
The finale of the US managing general agency (MGA) conference was a casino night, put on by the claims giant Sedgwick.
-
The Los Angeles-based company serves the habitational, commercial and hospitality sectors and community associations.
-
Great American replaces Axa-XL as a paper provider for the AJ Gallagher-owned marine managing general agent.
-
Property fac-focussed Brickell Underwriting Agency will open in early November and begin writing risks from 31 December.
-
Trust Lime Street not to go ‘past a certain point in the distribution chain’, the Ascot Group CEO said.
-
The disconnection between MGA and carrier valuations continues.
-
Dan Watson will take on the role of senior engineering underwriter and join Peter Rossell who was Pioneer’s engineering head.
-
MGA Pioneer asserts its independence as its former sister company closes its buy-in transaction.
-
Both underwriters were involved in launching the marine division in 2017.
-
The cyber and technology specialist will bolster the US buyer's existing London-based operations.
-
The Ark co-founder joins as the MGA rebrands to Optio.
-
The new venture will cover a wide range of niche worldwide risks, mostly via delegated authorities.
-
Lovell Minnick offers a 34 percent premium over yesterday's closing price in a deal which follows on the heels of the Standard Club and CTMA disposal agreement with Premia.
-
The broker has also completed the acquisition of MGA Sierra Specialty Insurance Services.
-
The executive is understood to be pursuing interests outside the insurance industry.
-
The two executives join from JLT Re and are specialists in binding authority and open market general and professional liability.
-
The former JLT Re executive takes a managing director role at the new operation.
-
SSL Endeavour is the third intermediary to target the concentrated aviation market.
-
CEO Sean Harper says the MGA’s transition to become a Florida insurer will make it more stable.
-
The executive leaves the London-listed carrier after 18 years.
-
The ears of private equity (PE) houses will have likely pricked up at the news of Pioneer looking for a buyer.
-
The R&Q subsidiary is looking to expand its 2018 contracted GWP of $500mn.
-
The deal doubles Hamilton’s total premium base on a pro forma basis to $1.1bn.
-
Hugh Crossland becomes CFO as Jonathan Palmer-Brown takes on non-executive chairman position.
-
The MGA is building an engineering portfolio of construction and operational power risks.
-
The acquisition builds on the 2016 purchase of MGA Arc Legal.
-
The firm primarily operates as an MGA, underwriting specialist automobile insurance.
-
The purchase is Nexus’ 14th since BP Marsh became an investor in 2014.
-
The MGA's chairman Dane Douetil is likely to retire if the Canaccord Genuity-led auction results in a sale.
-
The acquisition will be financed through a cash payment, share issuance and two tranche payments.
-
Purchase of controlling share follows previous underwriting relationship.
-
Alicia Calhoun serves as energy oil and gas practice leader and is based in a satellite office in Houston, Texas.
-
The Insurance Insider’s Market Sentiment Survey, in association with EY, found that the majority of market figures think growth will be difficult to sustain.
-
Our in-depth research study explores the current state of, potential growth opportunities for and challenges facing London’s burgeoning delegated authority marketplace.
-
Jim Donnet and Jeremy Probert have both left the MGA platform in the past two months.
-
Increased competition has made the class one of the few in EC3 that is not seeing a rating upswing.
-
Who would want to run an MGA these days? In fact, the answer is quite a lot of people, actually.
-
A new Arag unit will focus on legal expense products underwritten by the Talanx-owned company.
-
Earlier this week, Lloyd’s CEO John Neal told delegates at the Managing General Agents’ Association’s 2019 conference why his new Lloyd’s vision would benefit the MGA community.
-
The Lloyd's CEO says the fast-track entry route to markets could benefit MGAs.
-
In a Clyde & Co survey of MGAs, 61 percent said they would seek more capacity over the coming year.
-
The underwriter was head of the North American property binders business at Axa XL.
-
The Shard-based society has also launched a medical malpractice MGA with paper provided by Everest Syndicate 2786.
-
Marc van der Veer will help continue the strategy of buying niche European specialty MGAs.
-
The portfolio underwriting specialist is latest scalp for start-up.
-
Themis becomes the third UK vehicle established by David Thomas' MGA platform.
-
In his new role, Andrew Souter will be responsible for capital and reinsurance purchasing.
-
The MGA brought in company market paper to support a plan to expand premium by 25 percent to around $500mn over 12 months.
-
-
The executive replaces Karl Hennessy, who left to join McGill & Partners.
-
Lloyd’s remains the MGA’s largest capacity provider.
-
If I told you that it was possible to underwrite a cyber policy with one single piece of data, I’d wager that you’d either laugh in my face or tell me I was mad.
-
The transaction cements an earlier underwriting relationship.
-
The executive, a former Lloyd’s Asia Pacific president, joined the MGA with its acquisition of Huntington last year.
-
UK SME MGA Aspen Risk Management Limited will go into run-off, and account for the lion’s share of 140 job losses.
-
The syndicate’s founding active underwriter Peter Mills is also set to leave the business, as partnership is agreed.
-
Endeavour Capital and K2 co-founder Pat Kilkenny will retain the MGA platform's Aegis Security Insurance arm.
-
The MGA has hired Becky Steel and Dan Moorcraft to launch the new product.
-
Andrew Matson and Miles Shephard will run the revamped unit as CEO and executive chairman, respectively.
-
The size of the capital raise for the Bermuda-domiciled vehicle, which is 50:50 between the two partners, was not announced.
-
The San Diego-headquartered insurer will take advantage of the MGA’s network of equine specialists.
-
Players in the sector offering carriers profitable expansion will survive and prosper, Artur Niemczewski said.
-
Tom O’Connor joins the MGA after a career in asset management.
-
The buyer will provide services to Lloyd's managing agent Vibe Syndicate Management as part of the deal.
-
Axon Re has secured $10mn in backing from “Asian partners” for the new division.
-
AmTrust Ag last year reported gross written premiums of $103mn.
-
The Darag backer has committed $15mn of funds to help the expansive MGA grow.
-
The additional support expands the MGU’s paper by some $50mn.
-
The moves follow years of market malaise in the property sector.
-
The MGA is reviewing pitches from brokers to restructure its binders and bring in alternative sources of paper alongside Lloyd’s capacity.
-
The insurer had purchased 60 percent share of the business in 2015.
-
The buyout follows the purchase of a 49 percent stake in 2014.
-
News of the purchase follows the inaugural transaction by Nexus' broking platform Xenia.
-
The broker also confirms the appointment of Nick Fearon to its wholesale team.
-
Credit & Business Finance will integrate with Nexus’ Credit Risk Solutions “in due course”.
-
London-headquartered MGA looking to expand broking beyond trade credit.
-
Scott joined the broking group in 2014.
-
Rob Brown and Dawn Bhoma will advise a new transactional risk consortium, which is providing capacity to the duo’s MGA.
-
Deals are still a major driver for growth, insurance and broker executives told delegates at the Insider US event.
-
The venture will target the UK mid- to high-net-worth market.
-
The Swiss carrier teams up with Allianz-backed Fusion.
-
The $700mn Latin American fac facility is led by Travelers, and also includes Hiscox and Beazley.
-
The executive will report to Stuart Hollander, who leads the company that was created through the acquisition of AmTrust fee businesses.
-
Gladwell is joined by his former colleague at Upstream Brokers Misty Phillips.
-
The executive left his position in November last year after just seven months.
-
The Lloyd’s coverholder wants to capitalise on a contraction of capacity in the class.
-
A recent private equity acquisition valued the broker at around 15x Ebitda.
-
Stabilis is a UK MGA providing private motor insurance.
-
Humphreys co-founded Markerstudy in 1997.
-
Ascent CEO David Umbers moves to an executive chairman role at the combined entity.
-
Last week, this publication opined on a potentially straightforward solution to London’s operating expense problem.
-
Certa Insurance Services is thought to be the first tax insurance-focused MGA in the London market.
-
The David Ross-led group has created a new unit to overhaul the placement of the £3bn-plus of business it controls
-
A Lloyd’s excess of loss policy will make up the remainder of the MGA’s $500mn line size.
-
The InsurTech plans to develop products for the international market.
-
Andy Corton will join the carrier’s marine operation.
-
Japanese cat losses push reinsurance earnings lower.
-
Latest deal takes the GWP placed by the insurance intermediaries consolidator to over £700mn.
-
Robert Dorey and Steven Robson depart as a result.
-
A four-month fundraising round culminates in a deal with Avantis.
-
The Enstar unit will continue to provide capacity to the MGA and transfer renewal rights to an airlines and products book to the buyer.
-
The London market pair are negotiating with Abu Dhabi royals about a joint venture.
-
Richard Taylor joins the MGA from CMS.
-
Earlier this week we published a lead article on how the Lloyd’s performance drive has resulted in a flight to quality in the MGA market.
-
The ArgoGlobal-backed coverholder specialises in US A&H business.
-
Maher was most recently president of NIF Group.
-
Higher return expectations from paper providers could burst the MGA “bubble”.
-
The accountancy firm and consultancy finds most poll participants have concerns about business partners’ preparations.
-
PE backer BP Marsh is helping to fund the deal.
-
Jacqueline Spencer-Sim joins Pembroke from Axis.
-
ASQ will underwrite transactional risk policies with an initial gross capacity of $50mn per transaction.
-
The carrier has signed agreements with Element and CoverHound.
-
ARML writes a book of UK regional P&C business and was bought by the carrier in 2010.
-
If you have to turn to me for your dose of optimism, then things have probably taken a slightly strange turn.
-
CEO David Howden sees client demand for specialist treaty services.
-
The move follows the carrier’s decision to streamline Mapfre Global Risks.
-
The private equity firm buys a minority stake in the motor MGA.
-
The program manager and legacy transactions company forges an alliance with Kitsune.
-
The pair will underwrite upstream and downstream energy risks.
-
CPD is a UK-based MGA that writes private motor and household cover.
-
The £31mn deal includes MGA Geo Underwriting.
-
The property underwriter joins former Argo colleague Neil Chapman at the firm.
-
The former banker has left the managing agent and will carry out consultancy work in the New Year.
-
Liberty Luxembourg is lined up to lead the vehicle, which will target SMEs in Europe and the US.
-
The Axis chief joins Guy Carpenter’s Carter on the council.
-
The partnership follows previous deals between the start-up and Hiscox and QBE.
-
The binder will target the mid-market residential and retail business.
-
He will continue to underwrite for the German MGA from Markel’s London office.
-
An additional 88 brokers have also signed up to the delegated authority platform.
-
Former Finex Asia head co-launches a consultancy platform for financial institutions.
-
Alex Smith joins the cyber and specialty lines MGA from Capital Risks.
-
The Paris-based Helvetia subsidiary has acquired Aspen marine hull renewal rights and underwriters.
-
The four-strong team has moved to the London-based start-up.
-
The transaction follows Aon’s creation of a business interruption facility to cater for companies heavily weighted towards intangible assets.
-
Pollen Street Capital will buy the business through insurance-focused vehicle Specialist Risk Investments.
-
A lot has changed since InsurTech first barged into the collective (re)insurance vocabulary back in the heady days of 2016.
-
The departure follows the exit of another co-founder last year.
-
MGA business returns to the black as specialty and international business remain flat.
-
The Lloyd’s carrier will provide paper for the insurer’s property, liability and professional indemnity lines from 1 January.
-
The Ed CEO warned China will challenge London’s position.
-
The cover gives construction companies cyber liability insurance.
-
Mark Fisher was previously head of international finance at Ironshore from 2010 to 2014.
-
While Barbican Syndicate 1955 is withdrawing its paper, the MGA will continue using other carriers’ capacity.
-
Geo Underwriting's commercial lines businesses move over to Arch Insurance Europe.
-
The agreement further boosts Axa's delegated authority business.
-
The MGA enters the London construction market following a number of carrier exits.
-
Both sides have walked away from a potential deal at a late stage.
-
The end of the review trounces Ardonagh's hopes of securing the MGA.
-
The Jonathan Ranger-led business will initially target the growing cyber market ahead of rolling out its marine offering.
-
Former Munich Re Syndicate Singapore chief establishes rare Singapore MGA.
-
Azur’s technology platform is also being used to underwrite commercial insurance in the US.
-
The line between legacy carrier and live carrier is blurred.
-
The MGA plans to write builders' risk, general liability and surety business.
-
Goldman Sachs PE arm and Blackstone invest in motor MGA
-
Reinsurers now have fresh impetus to argue for flat renewals at 1 January.
-
Marsh & McLennan Companies' managing general underwriter platform Victor has hired Eric Solash in a newly created global head of capital markets role.
-
The Ohio carrier plans to offer its new unit a 'healthy degree of autonomy'.
-
Aurous Risk Partners will work to match risk to various forms of capacity, including alternative capital via fronting carriers.
-
The transaction is Worldwide’s fifth since the start of 2018.
-
The cyber MGA plans further appointments and product announcements as it looks to deploy capital provided by private equity firm Preservation Capital Partners.
-
The US will be the MGA’s expansion focal point, with two teams likely to be added annually.
-
North American arm of the Hyperion-owned MGA will distribute and underwrite environmental cover for the Bermuda company.
-
About 60 percent of Lloyd's managing agents are said to have signed up to DA Sats.
-
The guidelines will help underwriters navigate regulatory variation between European countries.
-
The rationale of some MGAs will disappear as Lloyd’s gets tough on performance, warns Munich Re Syndicate's CUO.
-
The binders market could have seen a greater loss if Florence had hit South Carolina directly.
-
The target is a Hamburg-based MGA which specialises in shipping, trade, transport and tourism.
-
The carrier had traditionally targeted primary business and was a lead market on a number of M&A insurance placements in London.
-
Richard Brindle will become group CUO, while Hinal Patel takes the helm in Bermuda.
-
The New York-based marine reinsurer shelves plans to establish a syndicate or special purpose arrangement, with a view to reapplying for a 2020 debut.
-
The expansive MGA is acquiring Altitude Risk Partners a day after completing a deal for Malaysian intermediary Huntington Underwriting.
-
The head of political risk and political violence has been at the Lloyd’s carrier for five years.
-
The German insurer joins The Hanover in support of Bascule Underwriting.
-
Huntington Underwriting will change its name to Nexus Structured Solutions, with its co-founders remaining at the helm.
-
Alan Punter will join the MGA as a non-executive director, which rebranded from Sciemus earlier this year.
-
MGAs and program administrators continue to enjoy fast growth overall, Conning said.
-
The $900mn multi-class capacity arrangement supports a pipeline of nine planned MGAs at Talbir Bain's venture.
-
The founding CEO had joined the venture in March.
-
The carrier has ceased writing international property direct and facultative business via the Miami operation.
-
The deal takes GRP’s combined GWP over £700mn.
-
The businesses will write on Argo paper.
-
The new MGA business will target car clubs and complex “one-off” risks.
-
The former CEO for North America for Swiss Re Corporate Solutions will oversee 11 operating companies.
-
Besso parent hires former Bermudian MGA operations head.
-
Quinn and Mendola move to Brit as Fairfax closes Advent.
-
The start-up will initially focus on management liability lines in the UK and Ireland.
-
-
Former CEO Rick Welsh has left the company as it prepares for a rebrand.
-
The noise around London’s expense base in particular has got louder in light of a Lloyd’s crackdown on syndicate profitability.
-
The reorganisation will entail no redundancies among Mapfre Global Risks’ 290 staff.
-
Paper providers are demanding greater transparency from MGAs as the need to streamline costs puts renewed pressure on the distribution model.
-
The increase in securities class actions is not a fleeting thing because it is part of a larger shareholder activism movement that has loomed for several years now.
-
The Spanish (re)insurer will fold the UK, French and Italy Global Risks branches into Mapfre Re, while the unit’s German operation will close in October.
-
Kevin Mooney will run the Ascot MGA's SME casualty business in a newly created role.
-
Is the London market MGA bubble about to burst?
-
Panellists at the Managing General Agents’ Association conference said the need to bring capital closer to risk means ILS funds and reinsurers will gravitate towards direct business.
-
The executive previously worked at high net worth specialist Horizon and Oak Underwriting.
-
The Capita Managing Agency CEO is expected to take up his new role later this year, replacing interim chief Robert Andrews.
-
Zurich said the MGA market represented a significant business opportunity for the firm to access different portfolios and expertise.
-
Investor BP Marsh valued the MGA at more than $140mn as of year-end.
-
Insolvency specialists at Opus Restructuring will work on the liquidation.
-
ATC expects to report GWP of almost $45mn in the year ended June.
-
David Ross nears a deal which would value one London's largest MGAs at 11x Ebitda.
-
David Mercer’s professional indemnity-focused underwriting cell is one of nine in the pipeline for Volante.
-
The MGA provides private flood, builders’ risk and lender-placed products to US financial clients.
-
The investment bank’s evolution from its start-up days also included setting up a risk unit.
-
Tysers’ cargo cover binder will pick up $50mn of the XoL reinsurance policy.
-
Rates for financial institutions products renewed flat to up 5 percent in London at 1 July, sources said.
-
In further changes at the Hyperion-owned MGA, Apollo CEO David Ibeson becomes chairman.
-
Reinsurance returns are pretty much at cyclical lows, with cat returns structurally squeezed and far less responsive to shocks than previously.
-
Bruce Carman’s new venture has named Will Gaunt as class underwriter.
-
Division will focus on MGAs and programs as well as InsurTech and alternative risks.
-
The Copenhagen-based MGA is led by CEO Lars Hendriksen.
-
Barbican head of financial and professional lines Andrew Pearson resigned earlier this month.
-
Nearly all of them supported the transformation of delegated authority.
-
Three unnamed mega-carriers will write $900mn of premiums to support the company’s underwriting teams.
-
Lauren Webb started her career as a professional indemnity writer at RSA.
-
The Nephila-backed MGA platform will add nine underwriting teams to the existing three.
-
The key to working together relies on developing symbiotic relationships, CEO Maffeo says.
-
The deal comes after the buyer secured $400mn backing from CDPQ.
-
The launch follows the hire of Neil Beaton in November
-
The MGA adds more East Coast states, bringing its total served to 16.
-
Two executives join from LV=Broker to run the small business unit.
-
The process looks set to value business at upwards of £180mn, or 12x Ebitda.
-
The carrier’s tie-up with the AIG unit helped secure its A rating from Demotech.
-
-
The group has combined Markerstudy, Zenith Insurance Management and Zenith Marque Insurance.
-
MGA platform Innovisk is at minimum a noteworthy side project for backer Willis Towers Watson, though it could be an underwriting beachhead.
-
The intermediary’s latest deal follows its Sullivan Group acquisition last month.
-
The MGA platform plans to grow via Amsterdam.
-
The bidders are likely to include Aviva, Axa, Allianz and RSA.
-
Development manager Mark Copsey said the move will bolster the MGA in its target markets.
-
The group has reported Q1 growth in all business units except its MGA.
-
The private equity-backed broker is also expects to target the captive sector.
-
Newly acquired NSM unit expands UK operations with Fresh acquisition.
-
Former AmTrust senior underwriter Tom White joins the MGA platform.
-
The MGAs join specialty reinsurance and surety ventures on the Pine Walk Capital incubator platform.
-
The energy veteran will run a new venture on Fidelis's Pine Walk Capital platform.
-
Aware Specialty is to be led by Giles Schofield, the former head of reinsurance for mortgage and special risks at AmTrust International.
-
The private equity-backed MGA and its investment bank adviser have been talking to possible suitors.
-
White Mountains Catskill Holdings has acquired 95 percent of the specialty program administrator.
-
The Hong Kong-headquartered carrier replaces Qatar Insurance as a paper provider to the MGA.
-
The financial services holding company's share repurchase is larger than originally planned.
-
Survey respondents also name consolidation as a key way to improve efficiency
-
The executive joins from Willis Towers Watson with more than 20 years of experience.
-
Sellers Munich Re and Reale Mutua will continue to provide the MGA with capacity.
Most Recent
-
RSA, CNA settle ExCel Covid BI lawsuit
19 April 2024 -
RSA refocuses cyber capacity to InsurTech MGA Resilience
19 April 2024 -
Hadron aims for UK and Europe to make up half business
19 April 2024 -
HDI elevates Hensel to CUO
18 April 2024