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The BP Marsh-backed MGA launched earlier this year, led by Adam Kembrooke. -
This will be Fidelis’ first office in North America and will be led by former Navigators Re head Ivan Vega.
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MGA Amiga Specialty launched in May, with backing from investor BP Marsh.
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The market turn may give some staff pause for thought, but reward remains high.
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The change in reinsurance intermediary follows an RFP for the account.
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It said the loss did not reflect the underlying economic performance of the business.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The sidecar will support five programs providing specialty frequency coverages.
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The business has ramped up its underwriting volume since launching in Lloyd’s last July.
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Insurance Insider reported earlier today of the asset manager’s foray into the MGA space.
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The MGA is backed by three Lloyd’s syndicates, offering capacity limits of up to $10mn.
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