Axon Underwriting Services is set to build its contaminated and consumer products recall book with a deal to buy a renewal portfolio from Allianz Global Corporate & Specialty (AGCS), after setting up a new crisis management unit staffed by former AGCS executives earlier this year.
Wholesaler, program manager and MGA Breckenridge Insurance Group has hired former Apollo, Newport General and Tri-Star executive Sheree Davis to launch a new non-standard auto program in Texas.
Surging organic growth in Brown & Brown’s programs business of 15.5 percent for the second quarter helped keep it just about in positive territory overall, but new start-up capital coming into the segment could temper that performance later this year, according to the intermediary’s CEO.
Venture Insurance Programs has revealed a new insurance program for community and social services, including nonprofits and for-profits, with former GuideOne underwriter Erin Crawford Peterson as practice leader.
Bill Goldstein-led consolidator platform Constellation Affiliated Partners has already completed a number of acquisitions including a buy-in to MGA and wholesale broking platform Allstar Financial, The Insurer can reveal.
Benchmark Holding Company, a subsidiary of newly-floated Trean Insurance Group, has announced the acquisition of 7710 Insurance Company, a workers compensation program manager run by former Carvill and CNA Re executive Bill Adamson.
Hub International’s Specialty Program Group (SPG) has announced its second acquisition of the week with a deal to buy environmental wholesale brokerage firm Beacon Hill Associates (BHA).
News broken by The Insurer that rehabilitated Ambac is lining up a live insurance platform that looks set to include a program fronting capability raises the prospect of a fresh addition to the already swollen ranks of vehicles that have rolled off the production line over the last few years.
The well-documented woes of the Florida homeowners market might not paint a picture of a burgeoning opportunity for new entrants, but a number of recent developments point to fresh interest in the Sunshine State.
Program carrier and MGA platform Trean Insurance Group (TIG) will use a portion of proceeds from its planned IPO to add to its capital base in a move it says will give it the opportunity to access additional business.
Homeowners insurtech Hippo will use pending acquisition Spinnaker to facilitate its geographic and product expansion as it also looks to a future entry into the Florida market, according to the MGA’s chief insurance officer Rick McCathron.