Distinguished Programs explores raising minority capital
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.
Venbrook gets Everspan capacity for medical transportation program
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.
RPS and ISMIE partner on PL program for insurance agents/brokers
Risk Placement Services (RPS) has launched a new insurance agents and brokers professional liability (PL) program with ISMIE Indemnity Company.
Maintaining momentum…
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-reThought tie-up targets “wide open” commercial flood market
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.
Reciprocal exchange adds stable capacity as SageSure looks to grow beyond $800mn
Ethos Specialty adds casualty exec Canfield
Tech firm Peak6 to buy parent of Florida MGA MacNeill
Coalition to distribute cyber coverage to QuickBooks customers
Branch closes $50mn Series B with Anthemis, AmFam, HSCM and Scor backing
Embroker plans full-stack expansion after $100mn raise with HSCM among investors
Alliant completes Confie acquisition
Accelerant buys Agribusiness Risk Underwriters
Skyward Specialty partners with MGA reThought on commercial flood offering
Insurtech Scale gets Beazley capacity for influencers media liability coverage
Target markets
TMPAA Panel: “Renewed sense of optimism” in program market
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.
Comment
Platforms for growth
New turnkey MGA platforms are emerging in the program sector looking to provide a home for underwriting teams and seek growth opportunities in a burgeoning marketplace…
M&A
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Program partners & launches
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People Moves
Ethos Specialty adds casualty exec Canfield
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.
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