Interview

RT’s Turner: Strong M&A pipeline after “tremendous fit” Socius deal

Ryan Specialty is buying Socius Insurance Services because it is a “tremendous strategic fit” and the buying firm sees further potential acquisitions for its wholesale brokerage RT Specialty as well as its delegated underwriting authority business, according to group president Tim Turner.

Fidelis MGU expects 100+ hires in 2023 with headcount to reach 350 as it leans further into hard market

The newly-separated Fidelis MGU will hire an additional 100 underwriters, analysts, finance and technology staff this year taking its global headcount to over 350 as it embarks on a rapid expansion.

IGI expects “continued profitable growth” in 2023 after GWP jumps 38% in Q1

International General Insurance Holdings is confident of strong growth for the rest of the year after its short-tail and reinsurance segments drove 38 percent growth in the first quarter, although president Waleed Jabsheh told this publication that aviation is “very worrisome”.

Brace for impact

Brace USA is a new player in the program market. It brings a fresh approach, working closely with MGAs to deliver long-term success. Its leaders Charlie Rawlins and Glenn Dorr explain what makes Brace so different.

Kentro’s Thompson: Brown & Brown deal will “accelerate and amplify” growth trajectory

Kentro Capital’s £380mn ($472mn) acquisition by US broker Brown & Brown will accelerate the London MGA/intermediary’s growth targets in the short to medium term while providing the firepower for future transformational M&A, founding CEO Colin Thompson has said.

Neptune’s new investment supports push for 10% US flood market share in five years

Neptune Flood’s new backing from private equity firms Bregal Sagemount and FTV Capital will provide further fuel for the MGA as it targets getting around 10 percent of the US flood insurance market on its books within the next five years, CEO Trevor Burgess has told Program Manager.

Swiss Re CorSo looks to increase clients’ resilience through a digital twin

A big push for Swiss Re Corporate Solutions is its Risk Data Services platform, which helps companies build a digital twin of their assets to gain a better overview of their exposure, with Allen Kwan telling The Insurer the benefits include developing insights that inform insurance-buying decisions.

Buoyant UK MGA sector has “significant growth potential”: Pro’s Maleary

Pro MGA Solutions CEO Danny Maleary has provided a bullish outlook for the “buoyant and robust” UK MGA sector, paying tribute to the “entrepreneurial spirit” that is helping drive growth.

Probitas targets energy transition opportunity as Grainger builds out new team

Probitas is entering its “most exciting phase” as the Lloyd’s insurer prepares to build out its new energy transition team under the leadership of former Munich Re underwriter James Grainger, according to CEO Ash Bathia.

Liiba’s Croft: Lloyd’s underwriting room can be ”competitive advantage” in talent drive

Lloyd’s underwriting room can serve as a competitive advantage in helping attract new talent into the sector, according to London & International Insurance Brokers’ Association CEO Chris Croft.

Biba CEO: UK brokers are now “growing their own” talent

Talent recruitment and retention will form a topical focus of this year’s annual British Insurance Brokers’ Association conference as the sector considers ways of attracting people into a broking career, according to CEO Steve White.

Stubben Edge’s Kenning calls on insurers to “get people excited” amid risk of apathy

Stubben Edge CEO Chris Kenning has warned apathy among customers about insurance is the industry’s “biggest competitor” as it looks to expand its product offering, calling on carriers to develop solutions that “get people excited”.

Cannasure eyes growth opportunities as it transfers core portfolio from Topa to Sutton National

Cannabis industry-focused MGA and wholesale broker Cannasure is looking to continue its strong growth trajectory as it moves into its third year under One80 Intermediaries ownership at a time when it is also close to finishing the process of transferring its core offerings from Topa paper to Sutton Specialty.

Vantage looks to add frontline underwriters to build out E&S-focused US insurance book

After pushing past $900mn of gross written premium in its second full year of operations, Vantage Risk expects its portfolio to move from a current 50:50 split to a heavier insurance weighting than in reinsurance this year as it eyes growth opportunities in its fast-growing non-admitted business in the US, E&S Insurer can reveal.

Chris Swift: Catalyst Award as powerful as The Hartford’s business transformation

The Hartford last month was recognised with the prestigious Catalyst Award for advancing diversity, equity and inclusion, and according to CEO Chris Swift the work the insurer has put into DEI is “equally as powerful” as the “transformational journey” it has been on with its business strategy.

Cloutier: Aspen passed the test in challenging 2022 following turnaround

Mark Cloutier in an interview with The Insurer has lauded Aspen’s strong 2022 results achieved against a challenging backdrop, with the executive expecting the (re)insurer’s capital markets business to grow further this year as he also commented he is “not afraid of this company returning to the public markets”.

Vickers: Tide rising for all ri buyers with mid-years to be “real test” of capacity

Reinsurance buyers faced rate increases across all territories at 1 April, Gallagher Re’s James Vickers has told this publication, but while the majority of programs at 1.4 were placed in a relatively orderly manner cedants face the biggest challenge yet at 1.6/1.7 in securing coverage.

Nirvana sets sights on diversifying into multi-line specialty MGA

London MGA Nirvana Risk Partners is targeting the diversification of its business from its traditional media, tech and cyber focus to become a multi-line specialty MGA over the next five to 10 years, according to founding directors Rob Jones and Kabir Chanrai.

Intangic MGA’s Dodd: Shifting cyber focus to attritional can help fill coverage gap

Intangic MGA founder and CEO Ryan Dodd believes the decision to view cyber from a different perspective has enabled the newly launched firm to create a product that complements the existing market offering.

XS Global building on LatAm base as it eyes international opportunities

XS Global is embarking on an expansion drive with the opening of its first full offices outside Miami and Latin America, as the Rainmaker Group-owned MGA also goes on the hunt for talent to support its growth ambitions in the 10 business lines it now serves.

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