Program administrator Distinguished Programs is looking at the possibility of bringing in a new minority investor to the business and is working with boutique investment bank Evercore to evaluate potential partners, The Insurer understands.
US broker Venbrook Group has secured capacity support from Ambac Financial Group’s recently launched E&S participatory fronting carrier Everspan Indemnity Insurance Company for a new non-emergency medical transportation (NEMT) program.
Risk Placement Services (RPS) has launched a new insurance agents and brokers professional liability (PL) program with ISMIE Indemnity Company.
This week we began conducting interviews for the latest instalment of our Prospective series on The Insurer TV, with a focus on the US programs sector.
Skyward Specialty CEO Andrew Robinson has described the US commercial flood insurance market as “wide, wide open”, after entering a partnership with tech-enabled MGA reThought to bring primary and excess limits of up to $20mn per risk.
Optimism has returned to the program market after faltering in 2020, while the “the bar has risen” among administrators leading to a divergence between those that have made investments in their businesses and those that have not, according to panellists during a Target Markets Program Administrators Association (TMPAA) town hall.
Ascot’s MGU platform Ethos Specialty has hired former Argo, AIG and Aspen executive Jeff Canfield as executive vice president for casualty and product innovation.