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The rationale of some MGAs will disappear as Lloyd’s gets tough on performance, warns Munich Re Syndicate's CUO.
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The binders market could have seen a greater loss if Florence had hit South Carolina directly.
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The target is a Hamburg-based MGA which specialises in shipping, trade, transport and tourism.
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The carrier had traditionally targeted primary business and was a lead market on a number of M&A insurance placements in London.
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Richard Brindle will become group CUO, while Hinal Patel takes the helm in Bermuda.
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The New York-based marine reinsurer shelves plans to establish a syndicate or special purpose arrangement, with a view to reapplying for a 2020 debut.
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The expansive MGA is acquiring Altitude Risk Partners a day after completing a deal for Malaysian intermediary Huntington Underwriting.
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The head of political risk and political violence has been at the Lloyd’s carrier for five years.
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The German insurer joins The Hanover in support of Bascule Underwriting. -
Huntington Underwriting will change its name to Nexus Structured Solutions, with its co-founders remaining at the helm.
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Alan Punter will join the MGA as a non-executive director, which rebranded from Sciemus earlier this year.
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MGAs and program administrators continue to enjoy fast growth overall, Conning said.
