MGAs/MGUs

Sources described the deal as a collegiate agreement, and long term the carrier is still understood to be committed to the US property market.

Sources told this publication Tom Draper would become head of insurance at the expansive MGA’s European operation.

The US practice will be led by Themis partner Naomi Collins, who has previously worked for CFC Underwriting and Allied World.

The law firm said some firms might accelerate deal plans because of changing insurance market dynamics and rising interest rates.

As a Lloyd’s-registered coverholder, ARTes will initially focus on underwriting a US inland marine specialty book with an estimated $20mn capacity.

The appointment comes in the wake of a major private equity deal for CFC, and the launch of a Lloyd’s syndicate.

The MGA can now offer limits of up to £10mn on either primary or excess layers for UK PI business.

The supply-chain InsurTech is also broadening the scope of its Lloyd’s syndicate.

Howden’s latest purchase boasts expertise in the jewellery and financial institutions insurance sectors.

The deal makes SiriusPoint the lead underwriting capacity provider for Honeycomb.

Samphire Risk is being incubated by Davies, which has supported the launch and hosting of more than 40 MGAs.

International CUO Kyle Bryant declined to specify when the company would be up and running but said it was in advanced discussions and “quite confident” of landing a deal soon.