MGAs/MGUs

Jack Falvey, CEO of Falvey Insurance Group, talked to Insider on Air about what sets his MGA apart in an increasingly crowded field and why “just having relationships” isn’t enough anymore.

The property and specialty insurer reported underwriting profits of $131mn ($170mn).

The company’s syndicate has booked an 87.4% combined ratio for 2024.

The MGA is offering lines of $25mn, up from the $10mn limit it was providing until late last year.

The transactional liability-focused MGA's Lloyd’s line is up from £37.5mn to £40mn.

Staff who left SRG’s MX Underwriting will begin working for Canopy this year.

The offering includes GA, aviation GL and airport and product manufacturers liability.

The product provides primary and excess coverage limits up to £5mn.

The executive said MGA and broking start-up activity looked set to continue.

Is the MGA start-up boom here to stay?

The MGA will be trying to replace the transactional liability capacity in the coming weeks.

The group joined Velocity in December and includes James Robertson.