Tokio Marine HCC to acquire renewable energy MGA GCubeTokio Marine HCC, a member of Tokio Marine Group, has signed a purchase agreement to acquire renewable energy risk specialist MGA GCube.
Nexus launches US financial lines division with PSIC capacityLondon market managing general agency Nexus Group has launched a new financial lines division under its recently rebranded US entity, with capacity for the new line provided by Professional Solutions Insurance Company (PSIC).
Hippo replaces Munich Re with expanded reinsurance panelPalo Alto-based insurtech Hippo has unveiled a new panel of reinsurers that includes Arch, Markel, RenaissanceRe and TransRe.
MGAA overhauls board as Earle and Birrell step downThe Managing General Agents’ Association (MGAA) has added Chris Harman of Resolution Underwriting and Lyndsey Thompson of Incorporated Insurance Group to its board.
MGAA MD Staddon to retireManaging director of the UK’s Managing General Agents’ Association (MGAA), Peter Staddon, will retire at the end of June this year.
Fresh hit for Danish Gefion as Bollington severs MGA relationshipUK broker Bollington has axed its relationship with unrated insurer Gefion – which entered an £80mn ($104mn) capacity deal with its MGA, Anjuna Underwriting, in 2017 – weeks after the Danish regulator raised fresh concerns over the carrier’s solvency levels.
Scor takes majority investment in Brazilian MGAScor has added to its involvement in the Brazilian agriculture insurance market after taking a majority investment in AgroBrasil Administração e Participações Ltda.
AmWINS grows top line by 27% to $1.4bnWholesale broking giant AmWINS grew revenue by 27 percent to an estimated $1.4bn last year as surging organic growth of around 16 percent was supplemented by four acquisitions, The Insurer can reveal.
London MGA Rokstone hires former Markel duo Pitts and UnglessAmbitious London-based MGA Rokstone has hired the former Markel International MD of property, Dean Pitts, as it continues to bolster its senior underwriting ranks, The Insurer can reveal.
TransRe-reinsured renters insurtech Goodcover launchesMGA insurtech Goodcover has started offering renters insurance in California with KnightBrook Insurance as carrier and TransRe acting as reinsurer.
Argo to sell Trident Public Risk Solutions to Paragon for $37mn gainArgo Group International Holdings has agreed to sell its Trident Public Risk Solutions brand and underwriting platform to Paragon Insurance Holdings, which will continue to write business on Argo paper.
Insurtech Boost raises $14mn to launch new productsBoost Insurance - which is reinsured by Markel, RenaissanceRe and Nephila - has announced a $14mn series A round of financing to expand the insurtech MGA’s infrastructure-as-a-service (IaaS) platform.
Acrisure led record North America agent/broker M&A in 2019The number of North America agent and broker mergers and acquisitions increased to its highest annual total in 2019 with 649 transactions – up from 643 in 2018 and 611 in 2017 – according to figures from Optis Partners.
US wholesale: the big just got biggerRecord flow into the E&S market is swelling the books of the wholesale giants…
Atlas Financial moves further towards MGA model with subsidiary saleEmbattled US commercial auto insurer Atlas Financial has signed a non-binding letter of intent to sell its indirect subsidiary Gateway Insurance to technology-driven financial services firm Buckle.
Lions Gate expands surety practice with Medina appointmentFlorida-based Lloyd’s coverholder and MGA Lions Gate Underwriting has hired Jairo Medina to head up its surety division and serve as executive vice president for Latin America.
CFC acquires big data insurtech ThreatInformerLondon cyber-specialist MGA CFC has acquired London-based insurtech ThreatInformer for an undisclosed sum.
Palmer-Brown heads new MGA BPB Underwriting ManagementLondon market veteran Jonathan Palmer-Brown is spearheading BPB Underwriting Management (BPBUM), the managing agency which launched this month with a new equine venture backed by MS Amlin.
New Paradigm adds Grunewald as it targets further expansionNew Paradigm Underwriters has hired former Greenlight Re deputy chief underwriting officer Matthew Grunewald as the managing general agent looks to secure additional reinsurance support to fuel further growth.
MS Amlin launches equine MGA as former MD buys bookMS Amlin has launched a specialist equine MGA – David Ashby Underwriting (DAU) – following the buyout of the carrier’s equine book of business and renewal rights by David Ashby, the former managing director and principal underwriter of the class.