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India considers 100% foreign ownership of brokers: report

The Indian government is considering allowing full foreign ownership of insurance brokers to attract more funds to the sector, according to a media report.

Charlie Thomas, 22 March 2017
Nexus Underwriting rebadges recently acquired Beacon

The Asian unit of managing general agent (MGA) Nexus Underwriting has renamed Beacon Underwriters as Nexus Marine following its purchase of the Hong Kong MGA last July.

Laura Board, 22 March 2017
Hannover Re to pay £142.5mn for Argenta

Hannover Re will pay more than £142.5mn ($177.5mn) for Lloyd's managing agent Argenta, according to details revealed in a Scottish newspaper.

Adam McNestrie, 22 March 2017
CFC confirms Vitruvian buy-in

CFC Underwriting has confirmed that Vitruvian Partners has agreed to purchase a stake in the managing general agent (MGA).

Charlie Thomas, 22 March 2017
AJ Gallagher claims manager jailed for five years

A claims handler at a managing general agent owned by Arthur J Gallagher has been jailed for five years after embezzling £1.8mn ($2.2mn) from his employer.

Bernard Goyder, 22 March 2017
XL Catlin installs E&S binding head

XL Catlin has expanded the role of Karl Fischbach to make him head of binding authorities for its excess and surplus lines (E&S) insurance operation.

Laura Board, 22 March 2017
Liberty Mutual buys assets of MGA TRU

Liberty Mutual Insurance's specialty lines business has acquired the assets of TRU, a managing general agency specialising in medical stop loss cover.

Bernard Goyder, 22 March 2017
Large cedants shrink reinsurer panels: Conning

The 20 largest cedants in 2015 slimmed down the number of reinsurers they used to concentrate their risks among just a handful of carriers, a new study has revealed.

Dan Ascher, 22 March 2017
Health reform struggle dims tax cut prospects: BMO

US equity markets were hit hard today amid dimming prospects for significant tax reforms, which could undermine earnings forecasts built partly on the assumption that the corporate rate would be cut this year.

Ted Bunker, 22 March 2017
Hilb buys truck cover broker

Acquisitive private equity-backed agency Hilb Group has made its 11th acquisition in the past year with the addition of American Truck Insurance Exchange, it announced today.

Ted Bunker, 22 March 2017

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