News this morning that Ambac has agreed a deal to buy MGU Xchange as part of its two-pillar fee-business and carrier platform strategy is the latest example of evolution in the US program sector as distribution players look to access stable sources of capacity.
There is no denying that the program sector has continued to be vibrant and dynamic in 2020, despite the impact of Covid-19. But in a market that thrives on relationships, the craving for contact is palpable.
One of the most noteworthy aspects of Munich Re’s investor day commentary this week was the decision to further shift its business mix towards primary specialty growth.
With the US Q3 reporting season now at an end, pricing conditions in the booming E&S market were a regular topic of discussion on earnings calls with management.
In a “normal” year it’d be about this time we’d be finalizing our schedules, putting the slacks and sports jackets into the cleaners and prepping up for Target Markets.
Just as there has been a deluge of headlines about start-ups and scale-ups in the broader (re)insurance sector as investors target hard market opportunities, the world of Program Manager has seen plenty of positioning for growth by incumbents as well as new players.
Start-ups, M&A and fundraising have been targeting the program sector as well as the wider P&C market. But how long will the window of opportunity stay open?
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.
Cementing access to paper and demonstrating alignment of interests with (re)insurers has become increasingly important for MGAs and program administrators.
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.
Welcome to the first issue of Program Manager, the new monthly ezine brought to you by the publishers of The Insurer.
Rumours that Hippo and Spinnaker were in talks over a potential transaction had been circulating in the program fronting space for a number of months.
2019 feels a long time ago which might explain why there was a sense of a history lesson with R&Q’s strong FY results published this morning (share price up 13 percent by midday).