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The acquisition allows AM Specialty to expand its E&S offerings. -
The carrier said the office in Belgium “doubled down” on its commitment to Europe.
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The MGA has added Scor and Argenta’s syndicates to its panel.
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The chairman said PE ownership can be “sub-optimal” in softer market conditions.
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Ambac also announced it was selling its financial lines book to Oaktree for $420mn.
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The terrorism product, led by Chaucer, will offer an initial line size of $100mn.
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The Howden-owned MGA lost ~$250mn in cat capacity in September.
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The former Everest executive will look to roll out a range of new product lines at the heavyweight MGA.
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The hard market has not burst the MGA bubble – and now interest is on the rise again.
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Polo MGA will provide services to both start-ups and established MGAs.
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O’Shea outlined growth ambitions and managing leadership transitions at the MGA in a wide-ranging interview.
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The consideration in this deal will also include $2.2mn of Ryan Specialty Class A common stock.
