MGAs
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The agency cited the segment’s sustained growth and performance on a global basis but noted tight capacity for certain risks and uncertainty looming over the fronting market as offsetting factors. -
Allianz Trade recently announced that Stennett's role is being taken on by Peter Evola.
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The product will protect offtake agreements from the risk of under-delivery of projected carbon credits.
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The five-person underwriting team will be led by Ian Lewis, who has been named head of intangible assets.
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It is understood the MGA will run a restricted process, but owners are open-minded on counterparties.
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The specialist MGA was launched in February 2019 by former Aspen active underwriter Ed Beckwith in collaboration with former Pembroke head of tax Tom Cartwright.
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Tokio Marine Kiln, Chaucer and Liberty Specialty Markets are among the Lloyd’s carriers understood to have joined the new venture.
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BP Marsh will receive a £51.5mn cash consideration from the sale of its 18.7% shareholding in in the company.
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Sources said the Houston, Texas-headquartered program manager is now writing business on Sutton National paper.
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The fac-focused underwriter launched in South Florida earlier this year, providing general liability and PV coverage in Latin American markets.
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Syndicate 1856 is looking to back diversified coverholders for the project.
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Stability Risk will be supported by Lloyd’s and London-market capacity.
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