It was at the Wholesale & Specialty Insurance Association (WSIA)’s Annual Marketplace 2021 in San Diego back in November that the extent of carrier retrenchment from supporting cat-focused property MGAs became clear.
In a short month that has already seen the publication of our relaunch issue of Program Manager, we might have been forgiven if our official February issue was a little thin on the ground.
Despite AM Best’s pitch that its now officially launched Best’s PA will bring transparency to the delegated underwriting authority sector, the word is not one readily associated with the programs space that MGAs, MGUs and program administrators occupy.
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.
Another month has passed in the programs sector and there appears to be no let-up in activity as buoyant conditions continue to drive new program partnerships, growth investments and M&A.
Far from a summer lull, the last few weeks have seen a surge in activity spanning fundraising, M&A, program launches and platform building in the US program sector.
For those of you new to Program Manager, or to our parent title The Insurer, we launched a new platform in the midst of the pandemic restrictions called The Insurer TV.