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The San Diego-headquartered insurer will take advantage of the MGA’s network of equine specialists.
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Players in the sector offering carriers profitable expansion will survive and prosper, Artur Niemczewski said.
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Tom O’Connor joins the MGA after a career in asset management.
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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.
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AmTrust Ag last year reported gross written premiums of $103mn.
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The Darag backer has committed $15mn of funds to help the expansive MGA grow.
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The additional support expands the MGU’s paper by some $50mn.
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The moves follow years of market malaise in the property sector.
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The MGA is reviewing pitches from brokers to restructure its binders and bring in alternative sources of paper alongside Lloyd’s capacity.
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The insurer had purchased 60 percent share of the business in 2015.
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The buyout follows the purchase of a 49 percent stake in 2014.
