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Barry Marren, who leads Arcadian’s property team, will focus on acquiring worldwide industrial and commercial property business. -
It is understood that the Miami-based underwriter will continue operating with capacity from Bermudian carrier PartnerRe and Mexican reinsurer Patria Re.
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As a decline in InsurTech investment continues and risk capacity providers reconsider their support, sources expect many InsurTech MGAs will have to review and potentially pivot their business models.
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Francesca Giurato will take on a leadership role for both Dual Europe and Dual Italia, with the aim of building a European hub for the fine art business.
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The business marks the latest launch into a financial lines market that has attracted substantial amounts of capacity.
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The business is predicted to write $1.4bn this year.
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Authorities in the UK, Ireland, Belgium and Bermuda have rubberstamped the ambitious restructure.
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M&A multiples might also come under pressure in a tighter debt market, experts said during a panel debate at Insurance Insider’s London Market Conference.
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The MGA plans to build up its presence within the Lloyd’s market.
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Spectrum Risk Management will rebrand as Nexus as part of the transaction.
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The investors have also purchased MGA service company Precision Partnership, and the firms’ leaderships will be combined.
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The executive joined the carrier last year as underwriting manager for US delegated authority.
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