PE-backed Canadian MGA GroupAssur acquires cargo specialist Eagle Underwriting
Private equity-backed GroupAssur has made a move into the US market and further strengthened its position as the largest independent managing general agent (MGA) in Canada with the acquisition of Toronto-based Eagle Underwriting.
Euclid Transactional secures Searchlight Capital as new minority investor
Searchlight Capital has closed a deal to become the new minority investor partner in M&A insurance MGA Euclid Transactional, The Insurer can reveal.
TMPAA panel: Market boom means there is enough to feed wave of program carriers for now
Strong US program sector growth and the ongoing flow of underwriting teams from traditional carriers to MGAs means there is currently enough business to feed the wave of hybrid program fronting carriers that have entered the market in recent years, according to panellists at Target Markets last week.
Volante’s Aesir Space adds UIB divisional director Balina
London-headquartered MGA Aesir Space has strengthened its roster with the hire of Anastasia Balina from United Insurance Brokers as an underwriter.
Next broadens offerings with new embedded insurance platform
Next Insurance has made a move into the embedded insurance sector with the launch of Next Connect as the fast-growing insurtech looks to strengthen its foothold in the US small business market by partnering with software platforms.
CFC’s Walsh: Technology-led approach helped drive £2.5bn valuation
CFC secures fresh PE investment at high-water mark valuation
Concert secures A- rating and $100mn capital raise for new fronting platform
Descartes and ICEYE partner of parametric flood risk solution
Palomar to front for New Horizon on cross-border commercial auto program
The Insurer TV
CFC’s Walsh: Technology-led approach helped drive £2.5bn valuation
CFC Underwriting’s status as leading technology-led MGA helped it to achieve a circa £2.5bn ($3.5bn) valuation after the highly regarded firm secured a major investment from private equity house EQT and existing backer Vitruvian Partners.
Viewpoint
Letter from Target Markets: back to deal-making
Two years is a long time in the program market. And last week’s long-anticipated return of the Target Markets Program Administrators Association Summit brought a record attendance as well over 900 delegates descended on Scottsdale, Arizona thirsty for a return to large-scale face-to-face interaction.
M&A
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Program partners & launches
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People Moves
Volante’s Aesir Space adds UIB divisional director Balina
London-headquartered MGA Aesir Space has strengthened its roster with the hire of Anastasia Balina from United Insurance Brokers as an underwriter.
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