Wholesale brokers in the clear following FCA probe
The Financial Conduct Authority has found no evidence of “competition concerns” following its wide-ranging study into broker activities in the London wholesale market in a massive win for market brokers.
$6bn+ now written in London through broker facilities
£4.8bn ($6.2bn) of gross written premium in the London market is now placed through facilities operated by brokers, according to a wide-ranging study by UK regulator the Financial Conduct Authority (FCA) published today.
FCA probe findings evidence of broker value: Liiba’s Croft
The findings of the newly-released final report into the FCA’s wholesale insurance broker review has provided insurance intermediaries with a “clean bill of health”, the CEO of the London and International Insurance Brokers’ Association has said.
Zuk joins Orchid to build out platform and ILS capability
Cat-focused MGA Orchid Underwriters has hired Joe Zuk as it looks to diversify by geography and product line and build a platform that can act as a conduit for ILS capacity, The Insurer can reveal.
Ascent backer Preservation Capital builds MGA platform with Cove investment
Private equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.
RSG swoops on Texan broker Myron Steves
Ryan Specialty Group has snapped up Myron F. Steves & Company (Myron Steves), an independently owned wholesale insurance brokerage headquartered in Houston, Texas.
Holborn hires Sciolla as chief production officer
US reinsurance broker Holborn has hired former Gen Re executive Berto Sciolla as chief production officer.
Lambrou named CEO of Aon Commercial Risk Solutions
Aon has named Lambros Lambrou as the new global CEO of its Commercial Risk Solutions division.
RFIB hires Stanoch from Burns & Wilcox
RFIB has hired Joseph Stanoch from Burns & Wilcox as managing director of its Americas platform.
Zuk joins Orchid to build out platform and ILS capability
Cat-focused MGA Orchid Underwriters has hired Joe Zuk as it looks to diversify by geography and product line and build a platform that can act as a conduit for ILS capacity, The Insurer can reveal.
Ascent backer Preservation Capital builds MGA platform with Cove investment
Private equity firm Preservation Capital Partners, the backers of MGA Ascent Underwriting, has invested in US construction-focused managing general agent Cove Programs.
Ryan adds International Specialty Insurance Services to MGU platform
Ryan Specialty Group (RSG) has added to its underwriting platform with a deal to buy high-value disability (HVD) specialist International Specialty Insurance Services (ISI).